But I have never heard of a judge denying a home owner the right to sell their property while court proceedings were taking place! Always be careful how you market your home. Always be straight forward with your buyers and agents, and let them no what is taking place with your property.
The worst thing that you can do it to create an enemy during these times. Most people want to know if the property that they are buying is in foreclosure or not, BEFORE THEY GIVE YOU MONEY!
After the sheriff's sale, you can get the house back. You have 30 days. This is called the redemption period. Once the redemption period ends, you no longer have any legal rights attached to the property. It is 100% the banks.
Once a property is sold and title changes hands, the past owner is out of luck, unless the sale is a 'tax sale' by the County. THEN the owner has the right to redeem the property by paying back the taxes plus interest within a specific time frame.
The short answer to your first question is yes. It will depend on how far along you are in the foreclosure timeline, timing is EVERYTHING.
Answer to second question is no and neither can an immediate family member. Also, if you're looking to make money on the deal, it will depend on how much you owe vs what the market value is (what you can sell it for).
Hope this helps.
Evelyn S. Fred
With regard to your second question, the previous owner does have a "right of redemption" and so, yes, they can get their property back. Usually, however, the Homeowner will have to pay cash to reinstate the mortgage. The redemption period varies from state to state. I believe in IL it is at least 6 months, but again, you should consult with an attorney.
Hope this helps!