Buying a foreclosure home is a goal of many prospective homebuyers including first-time homebuyers, but the process is not always simple. Often times, buyers of foreclosed houses face numerous uncertainties that can be overcome with knowledge and preparation.

According to Lawrence Yun, the chief economist of the National Association of Realtor, between 33 and 40 percent of current home sales activity results from foreclosures and other properties with an overburdened seller. A company based in Sacramento, California, TheHomeBuyingCenter.com, assists hopeful homebuyers in understand the homebuying process and by connecting them with investors and other real estate professionals in their areas for help with finding a great deal on a home.

The company's "buy a foreclosure home service" includes free introductory counseling for people looking to buy a house that covers subjects like mortgage pre-qualification; information on how to take advantage of short sales, and provides the buyers with tips on making offers.

"Most banks who own foreclosed houses only will deal with buyers who are pre-qualified for a mortgage loan," said Patrick McGilvray, the company's president.

Many lenders who have taken back foreclosed homes list their houses with a local Realtor who puts the house on the MLS. Many of these houses are being sold in an as-is condition, and prospective homeowners should have an experienced team of knowledgeable real estate professionals on their side to watch out for hidden problems.

"Our investors across the country buy houses from people facing foreclosure and sell them to homeowners directly," McGilvray added. "We also have relationships with thousands of real estate agents who specialize in helping people buy foreclosure homes directly from banks. These agents also work directly with loan officers who know a lot about government loan programs such as FHA loans and down-payment assistance programs."