Buying a foreclosure is basically the same as buying any property. To begin, you'll want to get pre-approved for a loan (unless you can pay cash). Next you should find a Realtor to represent you as a Buyer's Agent. A agent will be able to show you any and all properties (including foreclosures) listed for sale in the MLS. Don't fall for companies or people that say you can sign up for a free list of foreclosures. They WILL be in the MLS that agents have access to.
Buying a foreclosure does have it's risks -- but buying any type of real estate will have that.
Check out my blog post on the subject at: