Some banks do not want the expenses and liabilities of having the title, in some cases, they delay the auction until they are ready to resell the house. Having it occupied, may be more advantageous to them than having it vacant, susceptible to squatters, and the maintenance problems associated with ownership.
90% of all foreclosures don't foreclose and get extended. They can be doing a short sale, loan mod or just luck of the Irish.
Ecobroker and Realtor
The Carrabba Group
Keller Williams Hollywood Hills
P: (323) 899-2900
F: (310) 943-2421
DRE License #01708376