Need to ask if these were purchase money notes, refinances or equity based notes as there are differences in the disposition of collateral and redemption rights and equitable positions of borrowers.Bankruptcy courts may go the cherry picking route, the Trustee probably doesn't have a clue as to the note market or valuations and the asking price is negotiable.

I would assume going into the deal that if there was a house there is a chance of a homestead and plan on holding it for two years. 

If the population is aging and the areas productive youth has to leave the area to find employment, you are at very least looking at no chance for increasing equity and wealth with appreciation as the property value will not go up.

Once you let them get out of that discussion without a solid commitment to your offer your chances of closing the deal drop like a rock.

PM me when you have a chance.

If you get the chance, ask some of these people how much RE they own or have turned and then ask for documentation.

During the Monday morning hours is probably your best chance to catch their attention and the rest of the week to call to action.  

Don't take a chance, not worth it.

Chance,Welcome home.  

Not sure that's part of what you will have to sign, but it definitely would muck things up for me as I'd feel I'd have to disclose it before signing, unless I had enough savings to pay off the mortgages if they got called, and then I probably wouldn't care as much and take the chance.