Need ideas on offer to a bank

[Frank Adams]

Here's the basic rundown on a potential deal.

Couple getting a divorce, husband is drinking/drugging and neither of them are in the house. She lives about an hour away, not sure about him. They're about 5 months behind on payments.

Here's the numbers:
FMV after fixing about $105K-$115K.
Probably needs about $10K in repairs.
Loan balance is about $48K,
Bank wants about $5K in late charges and legal fees to date.
Wife wants to walk with $7500.

My attorney (who's also their attorney and brought me the deal) suggests paying the wife the $7500 (obviously I'd only do this into escrow subject to my getting marketable title.

Then buy the bank out (HERE'S WHERE I REALLY NEED YOUR HELP), I sure don't want to pay them full face on the note, nor any late or attorney charges. Then stepping in as lender FORECLOSE ON THE HUSBAND. This is Texas so it's a Trustee's Sale and could get done in 2 months max. I'm saying 2 months as the husband apparently doesn't have the means or inclination to bring the note current.

My problem is that technically the husband has, or would have legal access to the property while this in in process. I'm not sure where he is, none of the neighbors will admit to seeing him around but the house sometimes looks as though someone has been in it, electricity is on and there is one bed still there, but no food or even beer in the fridge.

How about some help on how much to offer the bank, also any other possible ideas on structuring it . Short of anything else I guess I could just show up at the Trustee's Sale when the banks guy does it with incremental cashier's checks and hope there's no one else on the scene who wants it more.

Thanks in advance guys and girls.

all cash