The legal term 'Lis Pendens' is latin of "a suit pending" (click here to see the legal definition). In terms of Real Estate, when there is a legal action being taken against a property a notice is filed with the county clerk called a "lis pendens". Is this strictly for foreclosure or unpaid mortgages? The answer is no. This can also result in terms of hiring a contractor and not paying them. In those cases the contractor can file a "lis pendens" with the county clerk for the amount of what is owed them.
So why do I bring this up? Some foreclosure classifieds websites have gone as far as displaying any property with a "lis pendens" filed with the county clerk to make it appear as though these properties will be auctioned for extremely low amounts. You can check with your county clerk for the status of the action and for properties that are truly going to auction due to foreclosure if you are choosing that route to purchase.
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