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Article Tags: Home Owner, Such Properties
Lis pendens is a Latin Phrase which translates to “suit pending” is an actual notice filed at the local county office stating that the lawsuit is being filed against a concerned property. This [url=http://www.tileproject.net]barbour outlet[/url] notice is regarding the title of property or claiming ownership of the said property by the [url=http://www.nitafrymeece.com/louboutin/]chaussures louboutin pas cher[/url] lender. This [url=http://www.batfriendtrust.it]scarpe hogan[/url] will show up with county recorder affecting the title of property.
As lis pendens is a pending law suit, the homeowner still has the possession of the property and they can go for selling or refinancing it. It is filed in the state where judicial procedure is followed; in other states with non-judicial procedure a notice of default is used.
After the lis pendens is filed, pre-foreclosure process is deemed to have started and the property usually takes from 90 days up to one year to be sold [url=http://www.ttcarpets.co.uk]mulberry sale[/url] finally in an auction depending on the state in which the property lies if it is not already sold by the home owner during this period.
The filing of lawsuit is an opportunity for a home buyer and such properties go on for listings in the pre foreclosure sections of online listings. More than 1 million such properties are available on such lists. The comprehensive pre foreclosure or foreclosure listing websites are always on the lookout for such properties and they [url=http://www.thehygienerevolution.com/hollister.php]hollister france[/url] add these properties the moment [url=http://www.batfriendtrust.it/category/hogan-outlet/]Hogan Outlet[/url] a lis pendens is filed.
Lis pendens [url=http://www.golfwithashotgun.co.uk]barbour uk[/url] is an alert to the buyer that a particular property is available as a pre-foreclosure property as its title or ownership is in [url=http://www.accrh.fr]doudoune moncler[/url] question. Smart Investors are always tracking such properties to buy them directly from the home owner as pre foreclosure properties before they come in the market or at auction. [url=http://www.fayatindia.com/giuseppe-zanotti.html‎]www.fayatindia.com/giuseppe-zanotti.html‎[/url]
The great advantage of a lis [url=http://www.par5club.com/louboutin.php]louboutin pas cher[/url] pendens is the cost [url=http://www.nitafrymeece.com/louboutin/]louboutin chaussures soldes[/url] benefit it offers. Properties with such a notice [url=http://www.batfriendtrust.it]hogan outlet[/url] are available at up to 50% of the market value as these are generally distressed [url=http://www.lotogame.fr/louboutin-pas-cher/]louboutin pas cher[/url] properties plus the title has already been affected and home owner [url=http://www.reedlawky.com/hollisterde.php]hollister[/url] needs to pay as soon as possible to the lender to avoid adding up interest day by day.
So a property is a pre foreclosure property from the day a lis [url=http://www.accrh.fr]doudoune moncler pas cher[/url] pendens is filed till it is finally sold at auction and is finally a foreclosed home.

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