It is great to hear that you are jumping into homeownership at such a young age. Congrats on a good decision in my opinion.
I would suggest that the first thing you do is get with a loan officer and realtor that you feel comfortable with. As a first time home buyer, you need the guidance and expertise of someone who understands every step of the process. They will also be able to give you a better understanding of the market in your area. That should help you to determine whether or not a foreclosure is the best option for you. Good Luck.
All the best,
Harry Norman, Realtors