Should they get it back (and they likely will) they will have it valued and place it on the market.
One thing to note is that these borrowers can still sell the property. And for a different amount then the sheriff sale "price".
If the lender agreed to a short sale... But with time running out, it would be unlikely.
There are ways, however, to be at or near the front of the line when the house is coming available for sale. And that is all we do.
If interested in learning more feel free to contact me. No obligation.
Steele V. Propp