There are an ever increasing amount of websites that capitalize on the current foreclosure crisis.  They search a database of court records to see which properties have had a Lis Pendens attached.  Lis pendens is Latin for "suit pending."  This refers to any pending lawsuit that has been recorded in the same location where the title is recorded.

 

The problem with looking at these sites is that they don’t offer you any worthwhile information.  Just because there is some sort of litigation associated with the property does not necessarily mean that it will soon be a short sale nor will it even come onto the real estate market for any reason. If you do investigate you’ll find the sad phenomena sweeping the country, people that are unable to keep up with their mortgage payments.  I personally think it is unfortunate that we have created websites to highlight these people, but that’s just me.

 

Now that the Housing and Economic Recovery Act of 2008 is out we can also expect even fewer of these homes will come to the market. See Bail-Out.

 

If you want to find good deals, call me today. I have the tools to find out about all the properties on the market, and can advise you as to the actual what, when, how and why of any sale.