Advice of a Foreclosure

[Marcus Spurlock]

I recently had a home owner contact me about his house going into foreclosure. He is very upset about this and is looking for anyway to avoid this from happening. I feel really bad for him after talking to him and wish I could do something to help. Unfortunately I have never dealt with a foreclosure and don't know much about the process. He talked to me about possibly taking over payments or buying the property which is something that I am not in the position to do at the time. He is upside down with the property and having a outstanding balance of 187 K. His monthly payments are $1400 with a interest rate of 2.125%. It would take $8485 to bring the property current.  The house will be auctioned off on May 19. Is there anything that can be done for the owner at this point or is he out of options.Any advice would be appreciated.