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What does Pre Foreclosure mean?

  • July 20 2013 - Swampscott
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Answers (7)

The seller has stopped paying mortgage and is on way to foreclosure proceedings.
  • January 13
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You have to pay rent, regardless of whether the landlord is paying their mortgage.
  • September 13 2014
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But do we still have to pay rent or move out
  • September 13 2014
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The pre-foreclosure status is simply that the lender who holds the mortgage has filed the initial foreclosure documents with the registry of deeds.  This info. (because public record) then gets pumped into the websites as pre foreclosure.  The owner of the home has probably been in default for months but the lender is just now filing the notice of default, Soldiers and Sailors Relief, etc.  This does not mean that the home will be entering the market as a foreclosure anytime soon. 
  • July 23 2013
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Technically, it's the early stages of the foreclosure process, where the homeowner is in default by a couple of months. 
  • July 20 2013
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Pre foreclosure is the process where the house may be able to go through a short sale, which is not actual "short", but sometimes very worth the wait.
  • July 20 2013
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Pre foreclosure is when the current owners are in default and the foreclosure process has begun. In some cases the owners lender may allow a shot sale so the owner that is in default can get out without being foreclosed on.
  • July 20 2013
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