I have no idea what you're referring to. When a home is foreclosed on the previous owners give up all rights to it. However, the foreclosure process is very long, and you might be thinking of when the initial foreclosure proceedings begin. The bank files an NED with the county (notice of election & demand). The home owner does have a certain period of time to get current on their payments (redemption period). Sometimes they do, sometimes they don't. But if they don't, the bank takes it back and owners are out of luck at that point. FYI -- the listings you see here under "foreclosures" are really just homes that are in that early stage of foreclosure. THey aren't necessarily for sale. This is why you really need to work with a local REALTOR, who will have access to all foreclosures (because they'll be listed in the MLS). Please do not base your info on these silly websites (Trulia, Zillow and even Realtor.com) that don't have up to date listings or accurate info. Good luck!