FORECLOSURE means that the house is not owned by a Bank and they will sell it directly to you: This is infinitely preferable to a Shortsale. The LIENS have been satisfied.
In either case, you will need a local Realtor to represent you; the Banks insist on it to the point where they are paying that Agents commission, not you.
Talk to a Realtor.
A home that is foreclosed essentially means that the home owners would have not been able to pay their mortgage, or work with their lender to come up with a solution, and have lost their homes because if it.
I am not sure what information you may be looking for, but I would be glad to help you with that. I regularly work with buyers looking for foreclosed homes. It is often a popular choice because the price of the home is often discounted compaired to similar homes. But be careful, they are usually discounted because of work that may need to be done to the home. Feel free to contact me to discuss further.