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Beattytxoqj, Other/Just Looking in Floral Park, Santa Ana...

What is an Inactive Forclosure?

Asked by Beattytxoqj, Floral Park, Santa Ana, CA Tue Mar 27, 2012

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Margaret Amador’s answer
I don't think there is something like an "inactive" foreclosure. Foreclosure is a process and generally starts with a lis pend after 3 months of non payment. There is no exact timeline for a foreclosure and I am seeing properties ready to be foreclosed on but for whatever reason the bank hasn't done so yet. Any delay is most likely an internal decision. I am not an attorney so this is not legal advice but merely professional observation.
0 votes Thank Flag Link Tue Mar 27, 2012
Since foreclosure is a process to convert a property to a new owner after the borrower defaults on the loan, if it is inactive it would seem the process to foreclose has been halted. But then many people here misuse the word foreclose so it could be something else too.
0 votes Thank Flag Link Tue Mar 27, 2012
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