It keeps getting postponed most likely due to the efforts by the current owner to save the property. The lender is asserting their right to foreclose as they should in the eventuality that the work out doesn't come through.

I don't have any specific knowledge of this property, the lender or attorney involved. When in doubt you should consult with the attorney or auctioneer handling the auction.

There are many reasons why the auction is postponed including the Owners trying to complete a loan modification, the bank not having their ducks in a row, etc. The property may never actually be foreclosed upon.