Anyone what to form a Piggington hedge fund to collectively compete with the bigger institutions? I think I can find my rebate check somewhere here.

Sounds like a great opportunity for a start-up!

Basically create a broker that specializes in matching buyers with distressed sellers. Create something like RealtyTrac where a buyer can select a zip code and then an intermediary (like the guy in OP) that works with the lenders and sees whats available. Charge a small commission on completed sales.

I work with a consulting group that out-sources IT development overseas and could get the web stuff taken care of fairly easily.