preforeclosure basic questions

[Jeffrey Grieshop]

Why would REI Pro list 100% "potential equity" but then it is also showing as a preforeclosure, lis pendens, filed 1/24/20?

So, this could be paid off in full but that doesn't mean it is. If it's paid in full and in preforeclosure, it would almost have to be that they are not paying property taxes, right? Can someone look at its prior history and breakdown what they think is happening? It's showing a $92k loan taken out in 2011. If that's the case, there is a very slim chance this property is paid off.

Would REI Pro, for any reason, report a preforeclosure, when it is in fact, not in preforeclosure?

Pics are very small - here are the details of the mortgage info history(format is not perfect and I can't fix it):

1  

9/15/2011	Steve	Mvb Mortgage Corporation	Fha	$92,240
4/30/2010	Steve	Mvb Mortgage Corporation	Fha	$92,683
	Mvb Mortgage Corporation	Fha	$92,683
10/23/2008	Steve	Perfect Mortgage Inc	Fha	$92,541
2/12/2007	Steve	National City Mortgage	Fha	$66,974
7/31/2006	Steve	Beneficial Ohio Inc	Line of Credit	$15,000

[Kenneth Garrett]

@Jeffrey Grieshop

Preforeosure is when the owner is behind on there mortgage payments.  It’s typically filed at 90 days behind, but every mortgage lender is different.  The property taxes are generally not the issue because your mortgage payment includes the property tax and most lenders will pay it to protect there interest in the property.  Preforeclosure does not mean the property will be foreclosed it is the first step in the process.  

You could contact the owner to see if there interested in selling.  Provided there is enough equity in the property and they want out it could be a good deal for you.