My friend is a Trustee for a property that just had a Lis Pendens served. He wants to prolong the foreclosure process while he figures a way to save the people from the actual foreclosure, while he knows that they will have to actually sell the house. What is the best way to respond to a Lis Pendens?
2007-12-13 07:43:06 · 2 answers · asked by Adam T 2 in Business & Finance ➔ Renting & Real Estate
There is NO response to a lis pendens. It's merely a notification filed with the land office that the person filing same has intentions of filing a lien on the property, and that the procedure is still pending. The lis pendens prevents folks from selling BEFORE the lien is filed in order to escape payment of same.
2007-12-13 08:55:57 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Ok, there is NO SUCH THING as getting a Lis Pendens served. Lis Pendens is something that gets filed against the title of the property down at the courthouse, and just means "pending action"...that is all that is. The paper itself usually doesn't contain details.
If your friend is a Trustee, then it is a very scary thing that he doesn't know how to deal with a foreclosure...why was he made a trustee if he didn't konw how the process worked.
Most Trustees are attorneys...and if your friend is one, then I really feel for the homeowners..b/c it will be like the blind leading the blind.
The BANK needs to be paid. That is how you respond...with money.
2007-12-13 16:27:27 · answer #2 · answered by Expert8675309 7 · 0⤊ 1⤋