All data for the May 2023 Lee County Florida Foreclosure was exported from www.leeclerk.org and trended with Microsoft Excel. This first chart shows the last cycle for perspective.

The market is changing, so we will be adding this dataset again. Going forward this will be password protected for Members only.

 

This chart shows filings for the May 2023 Lee County Florida Foreclosure
https://swflreia.com/wp-content/uploads/2023/06/May-2023-Lee-County-Florida-Foreclosure-filed-Mortgage-related-shorter-view.jpg

 

 

Let’s Look at who is filing RE: May 2023 Lee County Florida Foreclosure:

Filier Counts
FREEDOM MORTGAGE CORPORATION 14
PENNYMAC LOAN SERVICES LLC 8
LAKEVIEW LOAN SERVICING LLC 7
CARRINGTON MORTGAGE SERVICES LLC 6
WELLS FARGO BANK NA 4
MIDFIRST BANK 3
NATIONSTAR MORTGAGE LLC 3
NEWREZ LLC
SHELLPOINT MORTGAGE SERVICING
3
US BANK NATIONAL ASSOCIATION 3
BANK OF AMERICA NA 2
PHH MORTGAGE CORPORATION 2
U S BANK NATIONAL ASSOCIATION 2
SPECIALIZED LOAN SERVICING LLC 2
US BANK NA 2
NATIONAL COOPERATIVE BANK 2
FREEDON MORTGAGE CORPORATION 2
ROCKET MORTGAGE LLC
QUICKEN LOANS LLC
2
BANK OF NEW YORK MELLON TRUSTEE
CWABS INC ASSET-BACKED CERTIFICATES SERIES 2007-2
1
HSBC BANK USA NATIONAL ASSOCIATION TRUSTEE
SG MORTGAGE SECURITIES TRUST 2006 FRE1
1

 

In Florida, a lis pendens is a legal term that refers to a notice of pending litigation. It is a document filed in the public records of the county where real property is located, indicating that there is a lawsuit or legal action involving that property. The term “lis pendens” is Latin for “lawsuit pending.”

When a lis pendens is filed, it serves as constructive notice to potential buyers or lenders that there is a legal claim or dispute affecting the property. It essentially alerts interested parties that the property’s ownership or title is in question and that they should proceed with caution.

The lis pendens is typically filed by a party involved in a lawsuit, such as a plaintiff or a defendant, who seeks to assert a claim or interest in the property. The lis pendens document includes information about the parties involved in the lawsuit, the court where the case is pending, and a description of the property in question.

By filing a lis pendens, the party initiating the action aims to protect their rights and ensure that any potential transfer or encumbrance of the property during the litigation process will be subject to the final outcome of the lawsuit. It can be an effective tool to prevent a property’s sale or transfer without the knowledge or consent of the parties involved in the legal dispute.

It’s important to note that a lis pendens does not determine the outcome of the lawsuit itself but rather serves as a public notice of the ongoing litigation. It is advisable for anyone considering purchasing or financing a property with a lis pendens to seek legal advice and conduct a thorough investigation into the nature of the claim and its potential impact on the property’s ownership.

In a mortgage foreclosure in Florida, a lis pendens is commonly used as part of the legal process. When a lender initiates a foreclosure action against a borrower who has defaulted on their mortgage payments, they will typically file a lis pendens with the county where the property is located.

The lis pendens in a mortgage foreclosure case serves several purposes:

  1. Notice: It provides public notice to potential buyers or interested parties that the property is the subject of a foreclosure lawsuit. This ensures that anyone who may be considering purchasing or financing the property is aware of the pending foreclosure action.
  2. Cloud on Title: By filing a lis pendens, the lender seeks to establish a “cloud on title” or an encumbrance on the property’s title. This means that any subsequent buyer or lender would be subject to the outcome of the foreclosure lawsuit and would not obtain clear title to the property until the foreclosure action is resolved.
  3. Preservation of Rights: The lis pendens helps protect the lender’s interests by preventing the borrower from transferring or encumbering the property while the foreclosure action is ongoing. It aims to ensure that the property’s ownership remains intact until the court makes a final decision on the foreclosure.
  4. Parties Involved: The lis pendens typically includes information about the lender, the borrower, and the court where the foreclosure lawsuit is pending. This helps interested parties locate relevant legal documents and track the progress of the foreclosure case.

It’s worth noting that in Florida, a lis pendens has a significant impact on the property’s marketability. Potential buyers may be hesitant to purchase a property with a lis pendens because the outcome of the foreclosure lawsuit could result in a change of ownership or other legal ramifications.

If a foreclosure action is successful, the lis pendens is typically followed by the sale of the property through a public auction or other means to satisfy the outstanding mortgage debt. However, if the foreclosure action is dismissed or resolved in favor of the borrower, the lis pendens is typically removed, and the property’s title is no longer encumbered by the foreclosure lawsuit.

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