This is a diagram that explains the 'lifecycle' of a domain very well, from registration to deletion.
http://www.snapnames.com/deleteprocess.html
Do a WHOIS on the .info domain that you're eying. Notice the "Status:"
If it says PENDING DELETE SCHEDULED FOR RELEASE,
then the domain will drop and become available for anybody to register .. FIVE days after the "Last Updated On:" date in the WHOIS.
If it says PENDING DELETE RESTORABLE (the equivalent of REDEMPTIONPERIOD for .info domains),
then the domain just expired recently it will stay like this until THIRTY days after the "Last Updated On:" date .
Note that the original registrant/registrar can still renew the domain during this time period, but for a larger fee than the regular renewal fee. The domain will not DROP if they so choose to do that.
After the thirty days are up and the registrant/registrar has decided to do nothing, it'll enter the "PENDING DELETE SCHEDULED FOR RELEASE" phase, where it will be held for five days until it's released back to the public.
I hope you understand me. I don't believe the HOLD or INACTIVE statuses make a difference.