flip contract on a foreclosure?

Bird Dogs, Wholesaling
1

If a seller is in bankruptcy, and a foreclosure is imminent (less than a month away), is it possible to obtain and flip a contract for less than the amount owed on the three liens on the propery?

example: amount owed=$120,000
property value=$130,000

            offer=$70,000
            flip =$90,000?
2

To get less than the amount owed, you’d have to have some knowledge on how to do a shortsale.

If you made it to contract, you would NOT be able to flip/assign your contract. You must close a shortsale.

Raj