I am renting a house that is being foreclosed, How can I buy it??

Talk to the bank and see what they will do. The issue is that with little or poor credit you just can not borrow money for the house

If you have little established credit, then it will be difficult to get a loan. Maybe see if you can get a co-borrower.

Due the recent mortgage crisis, banks are cracking down on "risky" loans so you will have to make sure your credit history is clean and have a decent downpayment.

EDIT: I'm sorry OP, you didn't say what country you're in and I assumed U.S. If this was an incorrect assumption, let us know. Just the same, the advice is sound.

You can try and see if the bank will allow you to assume the mortgage, If you can pay the arrears they will be more inclined to do so.