$100,555 EMV


3 Beds   2 Baths   1,004 Sq. Ft.

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Nw 112th St,
Miami, FL 33168

Status: Active
Listing ID: 49424544

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02/14/17
Lis Pendens
If a homeowner misses one or more mortgage payments in states that follow judicial foreclosure actions a lender will file this formal notice with the local courthouse. The term is also used to describe mortgage-related complaints, which allow third parties to know that there is a pending legal action that affects the property. Approaching a homeowner at this stage of default represents a tremendous opportunity to make money in the real estate market because he or she is motivated to sell before potentially losing the house to foreclosure. It is important to do your research to determine what type of litigation the lis pendens relates to before approaching a property owner. A lis pendens is also filed when there is some other legal claim being made against a particular property, such as lien claims by contractors, divorce cases, and fines and penalties assessed by homeowner associations.

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Preforeclosure

Often, the preforeclosure period is the best time to purchase a property. The process begins when a lender first notifies a borrower that his or her loan payments are behind. If a borrower has no other means to bring the payments up to date, he or she is far better served to sell the property as soon as possible before it falls into foreclosure.

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Nw 112th St
Miami, FL 33168

3 Beds   2 Baths   1,004 sq. ft.

$100,555 EMV

Status: Active Listing ID: 49424544

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