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Definition: LIS PENDENS

LIS PENDENS

A written-notice that a lawsuit has been filed concerning a parcel of real estate. It is also a formal notice that starts the foreclosure proceeding. The foreclosure process is considered a pending lawsuit. However, the homeowner stays in possession of the property with rights to either sell or refinance the underlined real property.

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Posted by Find a Notary Public | needAnotary on 04/06/2008 11:43 AM

Comments (2)

lis pendens, definition, glossary, property right, law suit, foreclosure

2 Comments on Definition: LIS PENDENS

so many people that get a mortgage hear the word foreclosure but really don't understand that a mortgage is a contract and foreclosure is foreclosing on the house and that if you violate your part of the mortgage CONTRACT, like any other contract you can and will be sued! Maybe this should be a one page disclosure in plain English separate from all the legalese!

04/06/2008 12:05 PM

by AMERICAN CASH SOLUTIONS INC

I'm an attorney....nice "cliff note" synopsis. Good one

04/06/2008 12:35 PM

by Larry Bettag - Cherry Creek Mortgage

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