Lis Pendens Deed

Hi,

I looked in the Search / Enter box for 'Lis Pendens Deed' and found the following:

http://www.deangraziosi.com/search/node#keys%20Lis%20Pendens%20Deed

The legal term lis pendens is Latin for "a pending lawsuit" and refers to the period of time between when a lawsuit is filed and when the case is actually heard in court. In judicial foreclosure actions, lenders file a lawsuit to foreclose on a mortgage or deed-of-trust loan that is in default and a notice of lis pendens. A notice of lis pendens is recorded in the public records to give the public constructive notice that a lawsuit affecting a property's title has been filed in a state or federal court of competent jurisdiction.

In nonjudicial foreclosure actions, where lenders don't file foreclosure lawsuits and notices of lis pendens, instead they file a notice of default. This is a legal notice that is recorded in the public record to give the public constructive notice that a mortgage or deed-of-trust loan is in default and scheduled to be foreclosed on, usually at a private trustee's sale.

Gives notice that a party claims a right to real property.
Lis Pendens, Latin for (a pending lawsuit)

Randy

It means that the lenders trustee/Attoney have file for possible auction timeframe and it gives HO time to current their payments or awareness to do something about it or face possible auction on their property. A grace period may be. Hope that helps.

Cheers!!!

Thanks people! You guys are well informed and a great help!

The only question I still have is why there usually is no default value given. Only estimated value.

Oh, and since were on that subject of "estimated value," what's the difference between this and "fair market value." I have a pretty good handle on FMV but I don't know if or how it relates to "estimated value."