Here are stages of the foreclosure process we track and the data we collect:

Lis Pendens Filings - This is the first public notice filed in the foreclosure process. At this stage, we classify the foreclosure status as "Pending". From here, we complete our file by adding property detail including the approximate foreclosing amount, approximate property value, number of bedrooms, number of bathrooms, number of square feet, existence of other lienholders, owner contact information, bank contact information, etc. In the event that the owner is able to successfully resolve the foreclosure problem, the classification is changed from "Pending" to "Cancelled". All cancellations are removed from the database keeping our information current. If the foreclosure is not able to be resolved, a sale is scheduled, typically within 9 months.

Notice of Sale - This is the second public notice in the foreclosure process. When we become aware of a notice of sale, the foreclosure classification is changed from "Pending" to "Sale Scheduled" and the color code is changed from green to yellow. Preforeclosurex adds detail to the file including scheduled sale date, time, location and foreclosing lien amount. Sometime, the foreclosure sale is postponed. If the sale date has past and there has been no clear indication as to status the color code will change to blue until the new status can be determined.

Foreclosed - If the foreclosing lender takes the property into REO ("Real Estate Owned") at the foreclosure sale we change the foreclosure classification from "Sale Scheduled" to "Foreclosed". In the event the property is acquired by someone other than the foreclosing lender at any time during the foreclosure process, it is classified as "3rd party acquired" and removed from the database.

For Sale - If at any time we become aware that the foreclosure property is listed for sale, we change the classification to "For Sale" and the color code changes to purple. This classification can represent a listing by owner prior to a foreclosure sale, listing by a real estate company or for sale by the bank.

We make every effort to ensure that our foreclosure data is accurate. However, because the data comes from a variety of 3rd party sources, we cannot guarantee the accuracy. If you think there has been an error in the data, please contact us and let us know. Also, please consult a lawyer prior to finalizing any real estate transaction. Preforeclosurex is not a law firm or a real estate broker.

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