Pre-Forclosure with tenants
I am hoping someone can give me some advice and I hope I am wording it right.
There is a house that maybe in foreclosure (or pre-foreclosure statue). The mortgage holder leased the house on a lease to own basis. The tenants in the house stop making payment toward the mortgage. The mortgage holders live in a different state and no longer wants to deal with the situation and wants out. The property manager is not keeping them up to date on the situation so basically they really have no idea how bad the situation is. As a newbie investor is there anything I can do to possible help the mortgage holders?