Hi everyone, I am a new user and reading and asking questions is the only way I can get this car moving.  This evening I ran into a couple that are not late on their home and still maintain good credit.  As a result of their arm loan adjusting in May 08' and taking a $200,000 dollar hit in equity were unable to refinance. 

I am a loan consulant in California and have noticed a growing trend of homeowners, in this situation, getting pre-qualified with a co-borrower, purchasing another home and walking away from their existing home because they are severely upside down. 

I would normally ask if there is anything I can do to benefit the current owner but with negative equity they can't obtain a loan and probably a loan modification wouldn't fly either.  I would like to help them salvage their credit before they walk away. I understand their reasoning but a foreclosure will damage their credit for years to come.  With all this in mind, is there anything that I can do, as a real estate investor,  to capitalize on the fact that it isn't in the banks hands yet and that the current owner has no real attachment to the property anymore?

Maybe I am just spinning my wheels but if not I would appreciate some wisdom in this situation?  Thank you and I look forward to one day sharing  knowledge about real estate investing and not just asking for it.