Lis Pendis and Notice of Default
Thanks anyone for helping clear the confusion:
So Lis Pendis and Notice of default is the wording of the notice which would be Pre-Foreclosure?
[In the Daily Review, Palm Bch Cty] Foreclosure "cases" mean the ones coming up for foreclosure?
If so, then a deal could still possibly be made w/seller?? meaning the bank has not foreclosed yet ??
<IMG SRC="images/forum/smilies/icon_eek.gif"> [ Edited by LynLinz on Date 04/12/2003 ]
LynLinz,
Take your time to let everything soak in. You are confusing me! You may want to read this article written by William Bronchick, The Basics of Foreclosure, it explains the different foreclosure proceedings that states may use. Every state is different.
In Florida, it is a judicial foreclosure. That means that the lender files a lawsuit against the homeowner because they defaulted on their mortgage. The first step of the foreclosure process is when the lender records a "Notice of Default" or Lis pendens" against the homeowner at the county courthouse.
A courtdate it set where the homeowner will meet with the lender's representative to resolve the issue. Usually a foreclosure sale date is also set because the homeowner cannot bring the mortgage current. The courthouse keeps a "case" file that contains all the paperwork pertaining to the lawsuit. When you get the case number, then you can request the case file to review the documents in it. It will tell you which lender is foreclosing on the property, when the first NOD or lis pendens was recorded, how much is owed, etc.
I hope this clarifies it for you. If you're still confused, then let me know.
Tanya
Thank you Tanya1215!!!
I am reading everything I can find but somehow my brain needed that part of the process cleared up and you gave me just what I was looking for . Thnks again
PS [I may be back]