lis pendens

[Chief Tutor]

REPOSTED FROM THE REAL ESTATE FORUM

I apologize if this is not the appropriate place to post this, but I would appreciate any help.

If a lis pendens is recorded on a property, I know commercial lenders won't touch it but can private individuals still record a lien on the property? Ie, does a lis pendens legally prevent the recording of a lien?

If private individuals can record lien, does this mean the lien is somehow junior to the lis pendens (assuming the property is otherwise free and clear)? How exactly does this work since a lis pendens has no dollar value. thanks

Dan King

[Norris Craig]

Lis Pendens:
Lis Pendens simply means there is litigation pending against the property and/or it's owners. This is probably the lender(s) suit due to mortgage default, hence, the foreclosure status, but before you even THINK about buying a house in foreclosure TALK TO A LAWYER! Specifically one who has a lot of foreclosure experience.
One final thought; Before you begin the process of buying a distressed property research, research, research. And for God's sake, don't join any site that wants to charge you for a list. It's public record........thanks....