Lender will assign me the foreclosure

This was a new one. While speaking with the lender on the 1st mortgage, they gave me the offer of just assigning the foreclosure to me. Then, I could pursue it however I wanted.
Has anybody dealt with a short-sale/foreclosure this way? Any pros/cons of this method?


No one’s ever had the lender offer them this? Is this effectively buying the (non-performing) note?