^foreclosure questions

[womet]

Not for me. My BIL and SIL are notoriously bad with money. FIL gave them money to help them get current with their truck payment, and they got tatoos with the money. Wel, SIL posted on FB about moving into a new place. I sent her a message congratulating them and just asked her if they bought the new place or were renting. She said they were renting. It never made sense to me why they would rent a house when they own one. Well, it looks like they lost their house. I found their house online saying that it is going to be auctioned off at the end of the month. The 2 houses next door are listed as being bank-owned. So here's my question... what's the difference between the ones listing an auction date and the ones who are bank owned?

[bunch]

A house isnt officially bank owned until the foreclosure auction. Right now they're just delinquent and could hypothetically catch up the mortgage.

[womet]

Thanks. I don't think they are even going to attempt to catch-up since they have moved into a new place. And they got rid of their sweet basset hound because their new fenced in yard wasn't big enough.

[bunch]