Pre foreclosure at the courthouse

Comments(8)

• 
  RepoMan15th February, 2003

  NathanGillis
  What state are you in???
  
  Repoman

• 
  cmon10115th February, 2003

  hello NathanGillis
  This is what I do....it may help you
  when I look at a lis pendens I make a note of the legal description of the property and cross reference this with the property appraiser's records(i find it easier to look up the name of the owner that is listed on the lis pendens in the pa's records and after finding the record,I make sure the legal description is the same)the property record will list the physical address and the mailing address of the owner and usually tells you what the last sale amount and date was for.
  if you want to dig a little deeper on the property,you can go back to the recorders office and do a search by owners name and you can see if they may have taken out a second mortgage of if they have any more liens on the property..once your satisfied you just contact in person,by phone or mail the owners a letter
  good luck and hope this helps
  Chris

• 
  MarkB15th February, 2003

  Questions;
  
  What is "lis pendons"?
  
  What department at the court house do I inquire in?
  
  What am I looking for? If I am wanting to find pre foreclosure properties what do I go in looking for?
  
  Sorry for some many questions but I am very interested in finding people like this.
  
  Also, any good reading tips on this subject?
  
  Mark

• 
  NathanGillis15th February, 2003

  I am working in Georgia. I have checked the lis penden. I have the legal notices from the paper and to make sure I was doing things right I looked for the properties that are going to be auctioned the first Tuesday of March ( we only have one a month) and I could not find them listed in the lis pendens anywhere. I checked all the way back to Jan. 02. It may just be Georgia procedure.

• 
  jorge12115th February, 2003

  Mark B:
  
  A lis pendens literally means that litigation concerning the property in question is pending. It services as notice to the world a claim has been recorded against real property. In this case, the claim is that the mortgagee (bank) will be foreclosing on its lien on the property. A lis pendens serves as a cloud on the title.
  
  Depending on which state you are in, generally you will go the court house (civil division) to search their foreclosure database or files. These files are generally organized according to the parties names (debtor/creditor) but can also be searched by filing date.
  
  In terms of good articles/books, peruse the articles in this website. They can be very helpful. Good luck.

• 
  cmon10115th February, 2003

  hello MarkB
  A lis pendens literally means that litigation is pending. It tells the public that a lawsuit affecting the property is in progress and that any judgment awarded in that legal action will have priority as of the date of the lis pendens.
  The public records dept. at your local county offices..could be clerk of the courts office or comptroller's office..just ask someone where the deeds are recorded,it's usually there.
  now, since the lis pendens is the very first stage of foreclosure..these are true motivated sellers(most of the time).
  copy down the defendants name and legal desc. of the property in question and do what I described in the other reply on this post...here is a link to what a Lis Pendens will look like http://www.mortgage-investments.com/Real_estate_and_mortgage_Forms/formpage/2_lis-pendens.htm
  hope this helps

• 
  MarkB16th February, 2003

  Thank you very much you answered very much to the point and the document example with really help.
  
  Might I ask, how do you ask for the documents, uh Mr or Mrs Record keeper can I have all of the lis pendens?
  
  or other?
  
  Also is there a charge or is it a matter of public record and accessable to anyone?
  
  Hope not to may questions, but I plan on going asap.
  
  Also, if you get the info, you say they are motivated and I can see why. But, can you all recomend a script to approach them with?
  
  Thanx in advance
  
  Mark

• 
  RepoMan16th February, 2003

  Hi MarkB,
  
  First go to your County Courthouse, When you get there ask to be directed to the County Clerk or Mortage Recording Section. Your best bet is to see one of the clerk and be completely honest. Tell Him/Her you are looking for recent lis pendens or NOD's and that this is your 1st time there. Most of these clerks will be more than happy to help you. As far as cost...you only pay for copies. You can also write the information down, usually more time consuming. Keep in mind that when you go to this department there are usually many people doing title searches. Some of these folks can lead you in the right direction. Ask for help, someone will eventually come to the rescue.
  
  Happy Hunting
  Repoman