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If a homeowner misses one or more mortgage payments in states that follow judicial foreclosure actions a lender will file this formal notice with the local courthouse. The term is also used to describe mortgage-related complaints, which allow third parties to know that there is a pending legal action that affects the property. Approaching a homeowner at this stage of default represents a tremendous opportunity to make money in the real estate market because he or she is motivated to sell before potentially losing the house to foreclosure. It is important to do your research to determine what type of litigation the lis pendens relates to before approaching a property owner. A lis pendens is also filed when there is some other legal claim being made against a particular property, such as lien claims by contractors, divorce cases, and fines and penalties assessed by homeowner associations.
| Bedrooms: | 4 |
| Bathrooms: | 3 |
| Living Area Size: | 2,510 |
| Bedrooms: | 4 |
| Bathrooms: | 3 |
| Living Area Size: | 2,510 |
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