Landlord failing at paying water bill and now mortgage.2months ago?

Two months ago I began renting a room from a girl who owns a house and lives here. Within the first few weeks I found a notice that the electric was set to be turned off due to late payments. Then she was laughing about how it may take years til the bank forclosed now that she was late on the mortgage. Now the water will b turned off. I called the 1 800 number and the city told me it was the price of my rent n wouldnt turn it off until she spoke to me tmrw. Tonight another letter from the bank. They sent someone to talk to her. The house was sold in 2006 for 150k then in 2011 for 30k. And most recently for 70 K in late 2013 to her. Is there a way to "buy out" the debt and take over payment and own the house? I can only assume the bank would rather see someone take it over who can pay the mortgage rather than forclosure and trying to clean up the house and sell it again. Rumor has it the mortgage payment is 550 a month. For 70K after it was already sold for 150K shows me that they want it off their hands. I live in MN. Looks like an opportunity for myself. I have poor credit but a friend of mine is interested and would have the estimated 3000 or less to pay off the debt. Is it feasible to go thrpugh the bank and take over these payments?

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