t this meas? Foreclosure (Lis Pendens)

Asked by Yosi, South Florida, FL Tue Aug 6, 2013

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3
Kim Smith, Agent, Fort Lauderdale, FL
Tue Aug 6, 2013
T means the listings is no longer active
0 votes
Simon Campbe…, Agent, Miami Beach, FL
Tue Aug 6, 2013
When a home owner receives a foreclosure notice from their lender the property is considered "Lis Pendens" or pending a law suit. The foreclosure notice is called a Notice of Default. The owner has until the date on the notice to pay off the balance owed or the property will be put up for auction.

This period of time is when the home owner can work with their lender to short sell the home.
0 votes
Ron Thomas, Agent, Fresno, CA
Tue Aug 6, 2013
lis pendens is Latin for "suit pending"; it is the first formal notice of a Foreclosure.
0 votes
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