Not All "Lis Pendens" Provided By OTHER SITES Are Pre-foreclosures

Read More About The Differences Below

Lis Penden

A Lis Penden can be a any lawsuit filed which concerns the title to the particular property and or some interest in that property. The Lis Pendens (or notice of pending action) gives notice to the defendant, who is the owner of the real estate, that there is a claim on the property. Below is an example of a lis penden filed for a construction lien against a property. Notice, there are no similarities between this lis penden and the lis penden filed for foreclosure.

Example: Mr. Contractor provides work and materials for Mr. Homeowner's property repairs.  Mr. Homeowner does not pay for the repairs, therefore, Mr. Contractor files a construction lien (lis penden) against the property for the amount owed. This type of lis penden is not a foreclosure. Another example of a lis penden not resulting in foreclosure would be for property taxes

What is a Preforeclosure?

Any home that has received a notice of default on the mortgage either from the bank or mortgage company hence Pre-foreclosure or Lis Penden filed for Preforeclosure. There are 1000's of Lis Penden filed but only a percentage of them that are actual Lis pendens filed for foreclosure .These are usually homeowners that are 3 to 5 payments behind on their mortgage and are about 6 months away from foreclosure. With imminent foreclosure hovering over their heads, many homeowners are scrambling to find a way to salvage their credit by assigning the loan to someone else who can manage the financial responsibilities. In many situations, an investor is able to take over the property which may, in some cases, have up to 35 to 45 % equity already paid into the mortgage. This enables the buyer to negotiate a very good deal with the property owner with equity already built in.

This is why Jerseypreforeclosures.com goes a thorough review process finding our members only those "Lis Pendens" filed for Pre-foreclosure.

Buying pre-foreclosure properties requires you to have direct contact with the owner. Jerseypreforclosures provides you with direct phone numbers to the owners as well a the 2nd address to the owner in case he has moved to another property address to the owner scrubbed against NJ’s Do Not Call Registry As A Real Estate Stay In The Know With Jerseypreforclosures as your most reliable resource for preforeclosures.

See Comparison Below

This is an example of a Lis Pendens filed for foreclosure. This is exclusively what Jerseypreforeclosures.com offers our members.

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This is an example of a Lis Pendens filed for a construction lien against the property. Notice it has no correlation with a Lis Penden that is being filed for foreclosure.

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