What does : FORECLOSURE(LIS PENDENS) mean? Also , When it says $XXX and no $xx/mo.does that mean ALL CASH deal? Thank You..

Asked by zuke1951, Melbourne, FL Thu Oct 17, 2013

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Jeff Holloway, Agent, Sebastian, FL
Wed Nov 6, 2013
It can mean a couple of things. Where are you getting this info?
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Barb Mihalik, Agent, Merritt Island, FL
Sun Oct 20, 2013
A lis pendens means that the foreclosure process has started (pre-foreclosure). Even though this is considered a pending lawsuit, the homeowner still has possession and the right to sell or refinance the property. The time between a pre-foreclosure and the actual time that the bank takes possession of the property can vary greatly. Not sure what no $xx/mo means, but foreclosures are often purchased for cash.
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Thank you..
Flag Mon Oct 21, 2013
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