Pre-Foreclosure Search Lis Pendens
Hi, does anyone know how to search on the county records website for homes that would possibly be good to sell? I am reaching out to the Lis Pendens but there are only a few in the county here. Are there any other search options that would be good to search that are key indicators of an owner likely to sell their property?
It depends upon where you're searching and the precise process for initiating a foreclosure in that jurisdiction. Lis pendens (while not applicable everywhere) gives notice of the pending suit. Notice of Sale or Notice of Foreclosure or similar filing would give notice of the pending sale. These are both late in the process.
But since you're looking for something earlier in the timeline, I would be searching land records for Deed of Appointment of Substitute Trustee or Appointment of Substitute Trustee. When the original trustee on a deed of trust is replaced by one who specializes in foreclosure, this is a big signal of what's coming.
I would also look for mortgage assignments to specialized lenders who are often the last step in mitigation before foreclosure... such as Ocwen.
