Newbie IV: When Newbies Attack!!
Here's the deal: My dad in incarcerated for something STUPID!! He got involved in a whole lot of drugs and wound up smoking all of the money that they had gotten from a equity loan. When my dad went to prison, he left my mom with a floundering business and a crap load of bills including a first and second mortgage equalling about 130k. Eventually, my mom went into bankruptcy and is truly living hand to mouth. I don't make enough money to support anybody and my mom is to proud to accept a handout, but I was thinking (which usually leads to a nap on my part, but that's a different story), is it possible to try to ss the first and second mortgage, buy the house back and have my mom buy it back or another arrangement? Or is it too late because this is in bankruptcy? Or is this idea just looney? 
By the way, the house is HIT!! It is tore up from the floor up!! Holes in the wall, ugly and stained carpeting, water damage from a sink leak, bad furnace, years of abuse and neglect etc.. It does have two things going for it though; It has a new roof and it is in a community were the real estate values are constantly climing due to it's lake and canal access, low crime rate, and good schools.
If you have a friend or family member who can qualify for a new mortgage, and purchase the property via a short sale, it is possible do purchase at a discount, and keep it in the family until your Mom can buy it back...