Lis Pendens report...as of September 15th

According to Palm Beach County courthouse records availabe to us, as of September 15, there are 34 Journeys End/Grande Estates properties with an active mortgage-related "Lis Pendens". Basically, a Lis Pendens can be described as a recorded notice of a pending lawsuit against a property owner. Some states require lenders to file a lis pendens to begin the foreclosure process if a borrower is in default on loan payments.

However, a Lis Pendens does not necessarily mean that a particular property is "about to be sold at the courthouse steps". Many homeowners catch up on missed payments...work out a forebearance agreement with their lender...refinance...sell...short sell, etc. So don't expect there to be 34 bank-owned homes in Journeys End anytime soon...but, that's about 7% of all Journeys End homeowners with an active Lis Pendens-which does not take into account the number of homeowners behind on payments where the lender has not filed a Lis Pendens yet. So, notwithstanding all of the recent positive housing news...it doesn't look like we're totally out of the woods yet.