Is It Worth It? Deal Or Not?

Here is the deal or maybe not:

Home owner in pre-foreclosure:

FMV 185K
Loan Balance: 137K
Mortgage Past due: 5 mo. @ approximately 6K
Taxes Past due: Three years at 11K

Home is going to the steps next Tuesday. Spoke with bank, bank has billed customers escrow for the back taxes in the amount of 11K, bank will not settle for anything less that 5K per month until the loan is brought current? Homeowners credit is super bad and I doubt he’d qualify for a refinance being that his credit looks like shyt. Being dead broke and in foreclosure doesn’t help either. What would you guys do in this situation? Would you walk away from the 31K or cure the rears? I’m out of ideas.

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