I would recommend to contact a local realtor to check it out for you and set-up an alert on your behalf. Also, if you want to be proactive, you can try contacting the current owners by searching on this website: http://ira.property-appraiser.org/PropertySearch/
Properties that are going through the foreclosure process can take a long time to come available for sale and in some instances are sold in bulks of properties to large investment firms.
TIP: Something to keep in mind is that when properties are empty for a long period of time, the chances of deterioration, mold, etc... increase.
Stay on top of it and be patient. ;)
Wish you much success!
Coldwell Banker Residential RE
Your parents can buy a second home if the other home is 50 miles or farther from their current primary residence. If not, they can still buy a property as an investment home. As an investment property, your parent can rent out the property to who ever they want because investment properties are usually bought with 20% down payment and Interest rates are a little bit higher. After your property has been foreclose, the waiting period to purchase a home, it`s 3 Years.... more
I would do what the bank representative says. Many banks are dragging their feet on foreclosures because they don't want to put too many houses on the market at one time, driving prices down further. While there are a number of legal steps the bank must take to foreclose, it doesn't mean they will be kicking you out tomorrow. There's always a risk, so you should talk to an attorney. But I would consider staying at the property as long as possible.