We have been looking at a lot of properties online that are called Lis Penden's. I Goggled the definition and found out that Lis Penden means:
Lis pendens is Latin for "suit pending." This may refer to any pending lawsuit or to a specific situation with a public notice of litigation that has been recorded in the same location where the title of real property has been recorded.
The information on the Internet Property Search site we are using is this:
This is the initial document filed by an attorney or trustee on behalf of the foreclosing lender that starts the foreclosure process.
Our Questions on this subject are:
1)Does the above mean a Lis Penden is just another way to say Pre-Foreclosure?
2)If not what is the difference between the two?
3)Anyone have any experience in dealing with Lis Penden's?
4)If the Lis Penden process is different from the Pre-Foreclosure process are they more difficult to work through or could this actually be an easier step/process whatever.
We are working angles on a potential quick CASH deal. Quick assistance on this would be greatly appreciated.
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