Posted by Rich[FL] on March 13, 2002 at 11:09:42:
It’s a little different in some states than others (you don’t mention where you live), but here in FL, the first indication that a mortgage is being foreclosed is a notice posted in the courthouse records known as a Lis Pendens (or notice of legal action). A further search of the records, including the tax records, will generally yield information on when the property was purchased and for how much, approximately how much is still owed, taxes due, address of the property and, if different, address the owner. The Lis Pendens usually gets recorded 3-4 months before the actual courthouse sale takes place. You have time to send postcards, letters, make phone calls or personal visits and work through any challenges before the “hammer falls”.
Hope this helps.