They ensure there are no other liens to worry about like bankruptcy or IRS. 

Look, here are the facts; the borrower faced with foreclosure in this situation will probably answer one of the many letters, postcards etc being send to him by attorneys who handle bankruptcies when his foreclosure is listed.

but i have clients who have serious bankruptcies and delinquencies that have great scores too.

There's lots of good folks with good jobs but a medical bankruptcy or other event in their history that locks them out of a bank mortgage.

Not so fine, you'd have to sue for a judgment to get paid, could be wiped out in bankruptcy and you can't evict as they would own the home!

Last year I declared bankruptcy(due to a bad loan and lemon of a home) which is now discharged so the home is in foreclosure.

His credit is VERY bad..no one will loan to him for a reason..is this reason good enough or explainable for you to take a risk for him defaulting on the loan or filing bankruptcy on you? 

There's a car parked in the driveway and the landscaping looks well kept.So, please correct me if I'm mistaken but are the following correct:The money that I paid goes to the foreclosure attorney (McCalla Raymer LLC).If the previous owner did not declare bankruptcy in the last couple of months then the attorney will prepare a Deed under Power of Sale (Trustee's Deed) for me which is recorded in the county real estate records.

If you have tons of debt you can't recover from or will take 3 to 5 years you might be better of filing chapter 7 bankruptcy and blowing everything out.

He also filed bankruptcy about 9 years ago.