OfflineWe have been looking at a lot of properties online that are called Lis Penden's. I Goggled the definition and found out that Lis Penden means:
Lis pendens is Latin for "suit pending." This may refer to any pending lawsuit or to a specific situation with a public notice of litigation that has been recorded in the same location where the title of real property has been recorded.
The information on the Internet Property Search site we are using is this:
This is the initial document filed by an attorney or trustee on behalf of the foreclosing lender that starts the foreclosure process.
Our Questions on this subject are:
1)Does the above mean a Lis Penden is just another way to say Pre-Foreclosure?
2)If not what is the difference between the two?
3)Anyone have any experience in dealing with Lis Penden's?
4)If the Lis Penden process is different from the Pre-Foreclosure process are they more difficult to work through or could this actually be an easier step/process whatever.
We are working angles on a potential quick CASH deal. Quick assistance on this would be greatly appreciated.
Thanks.
You can't save the world but you can offer a hand up to a few along your way.
Yes, Lis Pendens is the same as pre-foreclosure. I go to our local court house to get the Lis Pendens since all the info is not available to the public on line.
Lea
SPR Property Solutions, LLC
Siana,
I had actually forgotten about this avenue to find properties but you have hit a gold mine! The Lis pendens list would allow you to send out mass flyers or postcards advertising your services before the list might even get published in your local "Public Notices" section of the paper. I wanna thankyou Siana you reminded me of this option in finding potential properties! Have a great first of the New Year and God bless you and yours!
Proudly serving God, You, and Country,
Edwin Epperson
"The greatest mistake you can make in life is to be continually fearing you will make one."
-Elbert Hubbard
Interesting, thanks for the clarification.
Sandra
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fracarell789 Thank you for your help! We really needed that clarified!
Serving7th, Your welcome! Now get out there and post those flyers!
You can't save the world but you can offer a hand up to a few along your way.
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When you have a motivated seller that has not made their mortgage payment for 3 months, by law, the lender is required to send notice to the property owner that they are starting the foreclosure process. The notice is called a Lis Pendens Notice. The Lis Pendens is used in a Judicial state. In a Non-Judicial state it will be called a Notice of Default. If you are wanting to find property owners in the earliest stage of pre-foreclosure, contact your Clerk of the Court or Recorders office and look up the file with the most recent filings. That way, you will have a few months to contact the owner.
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Jacobs,
Is there a site where it list what type of state (Notice of default/ Lis Pendens) all the states are in?
Proudly serving God, You, and Country,
Edwin Epperson
"The greatest mistake you can make in life is to be continually fearing you will make one."
-Elbert Hubbard
So I was being lazy I just went online to my county's office found several officials that might be able to help. Ikicked myself fr even typing that to you after thinking about it. I need to build on not relying on others for menial task that I can do myself, especially when it builds my own knowledge base!
Proudly serving God, You, and Country,
Edwin Epperson
"The greatest mistake you can make in life is to be continually fearing you will make one."
-Elbert Hubbard
Patt -
Thanks for the clarification on Lis Pendens.
I copied it and printed it and posted it on my wall.
Now I gotta send a letter to myself. I can write a doosey. (Is 'doosey' a word?)
Hey what time zone is this website in? It's 6:30 PM Pacific Standard Time on Thursday, December 31, 2009 and the time indicated on my post (above) says (Friday)01/01/2010.
Yeah, it's January 1, 2010 in England right now. So this website indicates time about 7 hours ahead of my actual time zone.
Happy New Year!