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what does pre-foreclosure mean?

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January 14 2013 - Homosassa
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Profile picture for tammy grainger
I was told by a friend who buys homes that my house was listed as  a pre foreclosure  on zillow's website, I make all my monthly payments to my lender.  I did not pay my property taxes on my home until a notice of auction was brought to me.  I payed the property taxes a month before the auction and my home did not go up for auction.  is this why i am listed on the website as pre foreclosure and how do i get my home off of there.  I am very upset about this 
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February 01
In this case, I am betting that your ex-husband was sent a Lis Pendens. Your name was probably also included on that Lis Pendens... perhaps because you were listed on the original title and/or mortgage.  

As a court proceeding, a Lis Pendens is public information.... which is how Zillow, Trulia, etc. can legally publish the information.  (And yes, many people don't understand this doesn't mean that the property may not be for sale)

Did your divorce decree address the dispensation of this property?  Were you removed from the title?  Were you removed from the mortgage?  If so, you need to inform the attorney in the Lis Pendens/Posted notice of the contents of the decree.  Send the lawyer a certified mail copy of the decree, making sure you follow the instructions correctly.  Hopefully this will force them to remove you from the paperwork, and prevent your name and address being used on future proceedings.

You should also check your credit score to make sure this proceeding is not adversely affecting your rating.

Best of luck!


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September 22 2013
I agree with Bob.  If you are not on the mortgage go and take that notice down.  Send a certified letter to the bank and/or Trustee and tell them to cease and desist publishing your personal contact information.

If they do not respond to you - pay an attorney to write them a letter.

Get a no trespassing sign or Beware of Vicious Dog sign.  You can find some pretty threatening no trespassing signs.

Anyone who comes upon your property without your invitation or permission is trespassing and can be removed by the police.
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September 19 2013
I'm sorry that people are bothering you at your home.  In an effort to stop people from knocking on your door, I suggest two things: 

1) Visit the property and remove the notice from public view.  It would be my opinion that you has as much right to be on the property as anybody else close enough to get an address from the posting.
2) Send a change of address to the county tax assessor where the property is located.
 
My very simple definition of Pre-Foreclosure: a blanket term used because someone has an interest in a property that has not been satisfied.  The Deed of Trust states how the person or company holding an interest in the property can protect the property and collect their interest; which is generally money.  Why is it listed as pre-foreclosure?  It could be for non-payment, no insurance coverage or anything else agreed to in the original documents.

Please know that I have seen both sides of the coin because these properties are posted under the header of Pre-Foreclosure.  Folks such as yourself have been bothered but on the other hand, I've seen mistakes made and having it posted in a public venue has allowed it to be corrected before something as harsh as a foreclosure sale. 

I'm glad that the decision to post the information falls to somebody else because I don't know where the balance could be found when comparing the harm or benefit of posting these properties as Pre-Foreclosure. 
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September 19 2013
Profile picture for user4192127
Zillow listed my ex-husbands "per-foreclosed" home on their list of homes and his home is not for sale. He never listed it with them. Apparently Zillow put the home on their list before the trustee posted the notice of trustee sale on the home or was served to him. The home is vacant and did not know anything was posted on the home. The problem here is I am the ex-wife and for some reason the notice of trustee sale paper has my address on it. I have began to get strangers at my door and asking a lot of questions about the house, I am guessing because its vacant? I have asked several of these people WHY their at my door harassing me? who told them about the house and where are they getting their information? several of them said they saw it on Zillow and when they went by the house they got my address off the paper posted on the house. So as you can see by putting peoples unlisted  homes on your list can cause a lot of problems for other people, don't even have to be the homeowner!  Putting unlisted homes on your list is sometimes unwelcomed. I very much DONT appreciate you putting my ex-husbands house on your list. 
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September 19 2013

It is a homeowner that is past due 120 days on mortgage payments.

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June 01 2013
As defined by Webstir's Real Estate Dictionary:

"a term used by various websites and real estate marketing services to lure potential buyers to their site so that they can collect user data to sell to other marketing companies who may in turn sell that data to another marketing company who will in turn sell that data back to the original company who then is forced to charge subscriber fees in order to offset their costs."

One local Chicago expert was quoted as saying, "It may be an opportunity to approach a financially struggling homeowner and work out a purchase plan for their property, or, it might cause the same homeowner to pull a gun on you and wish you never paid a service to get pre-foreclosure information."
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May 30 2013
These answers are all irresponsible garbage.  "Pre-foreclosure" is something Zillow or somebody has come up with to flag a property which has had some default notice published in the local newspaper.  IT IS NOT A PROPERTY FOR SALE and the owner is more than likely to cure the default.  This really disrespects the owners of the property, and Zillow should stop such publication.  If I were a property owner, I would sue Zillow and any site that listed my property as such.  It devalues the property, and sets up the owner for unsolicited inquiries - another good reason to sue Zillow.  THE PROPERTY OWNER IS THE ONLY PARTY THAT CAN SELL OR LIST THE PROPERTY.  If the lender ultimately takes possession, then only the lender can sell it.  The lender won't discuss anything about a property in foreclosure, and will ultimately find an agent to list the "bank owned" property.  You probably need an agent to handle a short-sale and the property may not even be under water.  If the owner wants to sell, he/she may list it on Zillow, but ZILLOW SHOULD NOT PUBLISH THESE AS "PRE-FORCLOSURES".  THERE IS NO SUCH THING.  IT'S EITHER "FOR SALE" OR NOT FOR SALE. 
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May 30 2013
This is evidence of the property owners being in some financial hardship and being delinquent in making their payments. It is a tip off that the property may be available for purchasing, unless the owner(s) have no desire to work towards some solution i.e. reinstatement, refninance, short sale, deed in lieu of foreclosure aka "a Graceful exit". Flippers may start watching the property in hopes of it coming to auction. A purchase of a PreForeclosure property type may not require approval of the existing Lender(s) if there is sufficient equity to payoff all existing loans or the Owner(s) are prepared to pay any shortage with available funds to avoid damaging their credit.
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May 30 2013
A pre-foreclosure is NOT the same as a short sale.  It is the period from when the seller/owner has received notice of default on their loan and the actual foreclosure.

 A buyer may still purchase a "preforeclosure" because it's still in the sellers possession and ownership.  

Often times a very good deal can be had with purchasing a "preforeclosure"; although the seller may not realize any equity out of their home.  The buyer can offer to pay what the current owner owes. I suggest you offer a few thousand more to give the seller money to move.  
 This serves the purpose of protecting the seller's credit from a foreclosure being on it AND the buyer potentially getting a very good deal on a home they otherwise may not be able to afford.  

It's a win-win for all involved. The bank, the seller and buyer.  .  
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May 30 2013
A pre-foreclosure is a home that has not yet gone back to the bank as a foreclosure....but it's on it's way.  This is the time when a house is being sold as a "short sale".....you can usually get a good buy on homes sold in pre-foreclosure.....if you have patience!!

If you are looking in Citrus County....I can help!
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April 05 2013
I suggest that you find yourselves a good buyer agent and work with the agent.
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January 14 2013
Profile picture for wetdawgs
Pre-foreclosures are not usually for sale.  

Here's a link to Zillow's section for buyers related to foreclosures with useful background information. 
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January 14 2013
Profile picture for scully75
In terms of buying a home that's noted as pre-foreclosure, what do we do?  Could it mean, it's not really for sale yet?
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January 14 2013
Jeremy has given you a full explanation to your question.  For instance a short-sale is usually preforeclosure.
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January 14 2013
Pre-foreclosure is the status of a property which is in the early stages of being repossessed due to the property owner's inability to pay an outstanding mortgage obligation.

Reaching pre-foreclosure status begins when the lender files a default notice on the property, which informs the property owner that the lender will proceed with pursuing legal action if the debt is not taken care of. At this point, the property owner has the opportunity to pay off the outstanding debt or sell the property before it is foreclosed.
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January 14 2013
 
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