Neighbors Forclosure & My Start

[Tim Anderson]

Hi, first post! I hope this is the right spot.

I bought my first home two years ago at foreclosure auction and it has worked out great, nice neighbor hood and all. But, my next door neighbor is letting her home go back to the bank. I have asked her multiple times about it and she has finally given me some information. 

She had said it was going back to the USDA in an undisclosed period of time? I am assuming this is a HUD deal? I have checked around at my local auditor's and recorders office and have not been able to get much information. It may be that the house has not moved along in the foreclosure process as of yet. I understand I may just be playing the waiting game with this which is fine because I could use some additional capital.

Would anyone be able to give me a few tips on how to prepare for the next step in purchasing my neighbors foreclosing home?