Foreclosure advice

[Ricardo Camacho]

I know a party who's home is in foreclosure and may be interested in getting rid of the property. My question is how should I approach this party about my interest in buying their home? Who do I talk to? Once that is established, how should I or do I purchase the home? I have some money saved up, my credit is not bad, and my wife and i currently own a home that is our primary residence. I am new to the real estate business so I don't want to screw up and lose out on my first possible deal. ADVICE PLEASE!!!