The homeowner still has possession and the right to sell or refinance the property. This represents a tremendous opportunity for home buyers and investors to make money in the real estate market. In states that require judicial foreclosure actions, lenders traditionally file a lis pendens to foreclose on a mortgage or deed-of-trust loan that is in default. On the other hand, a notice of default is used in states that follow non-judicial foreclosure laws.
Lis- Pendens Leads is homeowner at risk of foreclosure (bank repossession) due to loan default. A homeowner who immediately needs expert help to properly sell their home to avoid foreclosure and protect their credit. Filed by a lender, a lis pendens is the formal notice that starts the foreclosure process and becomes Lis-Pendens Leads . Even though this is considered a pending lawsuit.
In essence, depending on where the property is located, is the beginning of the foreclosure process. Property is considered to be in foreclosure from the day a lis pendens. The amount of time between these two dates varies greatly from state-to-state.
Regardless, this window creates a valuable opportunity for an investor to purchase the property from the homeowner before the sale date, which can sometimes result in instant savings and equity in your home. At ForeclosuresDaily we are the most up-to-date searchable database of foreclosed homes. Our data, is updated daily, to find you a great real estate bargain.