Buying Preforeclosure Question

[N/A N/A]

I know there is the subject2, and shortsales, etc...wouldn't it just be easier to offer to buy the house from the person who is about to face foreclosure - enabling them to pay off the balance and leave them cash still for moving/new house down payment or something?

balance due: 100K
house FMV: 300K
offer to pay them 200K for the house?

Also, there are people/companies who buy it and then lease it back for a year or something - what is the name of this process so I can study it?
Can someone straighten me out?

I am off to go reeeaaaddd.....