What is the next step??

[Jon Crosby]

I am a novice investor (1 VR basically) but looking to expand portfolio.  I found a pre-foreclosure in RealtyTrac that has a 168k loan on a 251k value in my area.  It notes that the owner is also in Bankruptcy.  If I wanted to pursue this property, what would I do next?  Ideally I would like to take over the loan, but I don't believe you can do that anymore (assuming I could contact him, and he agreed to that).  Do I reach out to the lender to put my name down in consideration possibly?  I'm guessing this is where a mentor would come in handy (no I'm not asking for one on here either).  :-) 

Thanks for listening and any responses to my general question!