Confused About a Pre foreclosure

[Christian Roberts]

I have been looking at the list of foreclosures from the courthouse, and have found a few I am interested in. Where I fall flat on my face is how to finance a foreclosure.

Here is the scenario I like at the moment,

On the list I found a house that is in debt for 111,458.42

I then checked the comps in the area using a few sites they all say the houses around are worth 250- 280.

The house is a mess it needs alot of updating.I personally know this house, because I used to be friends with their son.

Now how can I get the information on lein holders? Real estate agents want a kick back if i go through them to purchase in a short sale. Not to mention how do I finance this property? Can I use conventional methods in a short sale and use the fha? Can I use a hard money lender?

My outs for this property would be to rehab it and refi it at the same time then use the refi money to hold it until I can sell it. If need be with the Fha I will live in it for a couple years.
I dont know where to go from here?

Please give me some guidance.

Chris