Now you can buy Foreclosures for as low as $10,000. Listings Updated Daily.
Lis Pendens
Do you know what lis pendens is? Indeed, your knowledge about foreclosure and the process associated with it may be incomplete. Thus, it becomes harder for you to make buying decisions or you end up not purchasing the home that you really want. It´s time to get educated about lis pendens.
What is lis pendens?
This is a formal notice that informs both the lender and the home owner that the house is already in the process of foreclosure. This is normally given by states that follow a judicial process for foreclosures. If the state doesn´t have any judicial foreclosure action, what it normally issues is just a notice of default.
What is the effect of lis pendens on the property?
Though the lender may eventually have a claim on the property, the rights of the home owner don´t diminish by the mere issuance of the legal notice. This means that the house owner still has the option to sell the property to somebody else so he or she doesn´t have to go through the entire foreclosure process and further damage his or her credit score.
This is a good opportunity for buyers and real estate investors because most home owners are willing to offer their houses at a very low price. Normally, they already have a fixed price in mind, but if there are only few offers, they could eventually offer you with discounts and just assume the remaining balance on their own.
TopForeclosureListings.com has a lot of properties that are in lis pendens or in their pre-foreclosure stage. You can access them by simply signing up in our 7-day trial. A membership will also entitle you to a lot of resources that will tell you more about lis pendens. You can download our e-book or read articles written by foreclosure experts.
Knowledge Center
- Bank Foreclosure
- Bankruptcy Homes
- Cheap Land
- Commercial Foreclosures
- Condo Foreclosures
- Fannie Mae Foreclosures
- FHA
- Fixer Uppers
- Flipping
- Foreclosed Homes
- Foreclosure Auction
- Foreclosure Investing
- Foreclosure List
- Freddie Mac Foreclosures
- FSBO
- Government Foreclosures
- House Auctions
- HUD Foreclosure
- Lis Pendens
- Pre Foreclosure
- Real Estate Brokers
- Real Estate
- Repo Homes
- Sheriff Auctions
- Sheriff Sales
- Short Sale
- Stop Foreclosure
- Tax Credit
- Tax Deed Sales
- Tax Lien Sales
