Lis Pendens Fees And Such?
Hi, my partner and i are working a deal that we have in a trust and already have a buyer who will close in 30 days. the home was in default but the lis pends. was not filed yet. i had called country wide to get this months payoff and to ask about the lis pends. being filed. she said that it wasnt even in reveiw yet and that i had plenty of time to close the deal before they filed it.
next thing we know a week after i talked with her we get a lis pendens. how does that happen? it can go through review in 1 week? and what are typically the fees involved after it has been filed, obviously attorneys have to file the paper work so the payoff must go up correct? usually by how much? now is it in the hands of the attorney and will they negotiate there fees if we already have a buyer?
if country wide had told me that they were going to file the lis pends. i would have just brought it current so that i wouldnt get hit with the fees, i hate that bank.
next thing we know a week after i talked with her we get a lis pendens. how does that happen?
Answer: The simple process of the right hand not knowing what the left hand is doing! My interruption is an employee talk out of their lower portion of their body! LOL
it can go through review in 1 week?
Answer: Yes it can! May have been in review prior to you speaking with their employee.
and what are typically the fees involved after it has been filed, obviously attorneys have to file the paper work so the payoff must go up correct?
Answer: Yes more fees' are involved.
usually by how much?
Answer: Depends on what the attorney charges.
now is it in the hands of the attorney and will they negotiate there fees if we already have a buyer?
Answer: Possibly so and I have found attorneys are not too workable on their fees.
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I love your questions, as I have to think about them awhile!
If I let out all the secrets of loss mit I will loose all the great deals to you my friend.
The lis pendens can be filed at any point during the pre foreclosure stage unless state law states a specific
time frame. Keep in mind that it's just not a lis pendens that may be files as other forms are used as well.
One of my major states of investment uses lis pendens, notice, notice of default, notice of adverse action and a few others a real pain but for me I can be in a little pain on the research side for a profit check that covers all the pain and suffering.
I have faced this problem before and I will verify several times, I simply talk with one, a few hours later call and speak to another rep this is the only way I have found to work.
I had a case not long ago and talked to two reps and the sup and 2 days later boom they filed.
I have even had this happen with approved short sales with lenders.
Normally a lis pendens will not be renewed, they just file another the only way to be advised of this is a relationship with the department or verification check at the deeds office.
If I wrote an article on what goes on behind the scenes of a lenders loss mitt dept - I would be wearing cement shoes in the bottom of some lake!
I can not believe that I let out that I worked in a loss mit office - I'm sure it was just a typo LOL
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Beautiful, just beautiful!