You are right: if at all possible, try to avoid a foreclosure sale.
If your in-laws cannot afford the payments they will be much further ahead to sell part or all now at market price rather than to wait for a bank foreclose sale. The bank might accept the first offer above the amount owed them and your in-laws could lost much of the equity they have in the property.
Much of the confusion and frustration seems to be from the idea that you expect to buy the property for only the amount remaining on the mortgage rather than paying full market price. That's not going to happen without legal problems and family problems. Talk to a professional and have them spell out your options.
Good luck, it sounds like you want to help your in-laws.
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Today's Featured Article - On the Road with Dave Gohl: Deere Departed Friend - by Dave Gohl. Have you ever had to part with a dear friend? It's not easy. If it's due to death, your feelings could be in disarray for days, months or even years. Even now after almost 4 years, I still miss my dad. I remember when I was a kid my dad sometimes would tuck my brother and I in at night and we would ask him questions about his childhood on the farm. To this day, it's some of the best stories I've ever heard. And now, I'm so glad that I asked those questions, and if I were a little smarter i
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