Good links by Dunes, and good advice about the best resource being your time.
And while I normally advocate strongly against dual agency, it is a fact of life that most REO listings in an area are dominated by a few agents who choose this area of real estate as a specialty. They get most of the listings, and most importantly, know what will be coming on the market in the near future. It might be a good idea to get friendly with a few of these agents so you might have an inside track on a future offering.
Here are some top REO agents in northern New Jersey. Between them they have literally hundreds of listings and complete the lion's share of REO volume. In addition to being an agent, I am also one of the leading REO appraisers in northern NJ and I have worked with all of them. These agents list most of the REO properties in northern NJ.
Google them, they might be able to help you:
Patrick J Fox
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Coolest map-based norrthern NJ home search: http://www.marcpaolella.com