Pre-foreclosure what does that mean? Dallas Real Estate, Dallas home for sale, Dallas short sale, Dallas foreclosure, Dallas MLS, Dallas pre-foreclosu

A process where by a default has taken place. Usually a notice of default will have been filed as a first step. If the default is not cured either a judicial or non judicail proceeding is started and property is subject to foreclosure. Preforeclosure is sometimes known as Lis Pendens(lawsuit pending) in states that conduct judicial proceedings.

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