Often times, bank owned foreclosure properties are tied up in bankruptcy court or have liens on them that have yet to be released. The banks have taken the properties back but cannot re-sell the property until they have clear title to give to a prospective purchaser. I have seen bank owned homes sit vacant and unattended for years.
It can be quite difficult to find the actual bank who holds title to the property if the previous mortgage was sold on the secondary mortgage market prior to the foreclosure. You can try to research the property on your own at the Madison County Court House. This can be time consuming and may not get you the answers you are looking for.
If you are interested in this home, continue to watch for activity. If it is in your neighborhood and not be tended to, contact your local health or environmental department and file a complaint.
Betty Mitchell, Broker/Owner
Mitchell Co., Realtors