Bebop is definatley right about the bargain in foreclosures, but as a word of caution, please do yourself a favor, spend some money and hire a qualified inspector to thoroughly go through the house,
Often these houses are in dis-repair and the owners knowing they face eviction will sometimes vandalize the house( the most comon one is to remove fixtures). Just know what you are getting into for repairs before you sign any docs to close.
WIth that said best of luck!
TJ