I think for Florida and many other area's, it's only half time.If this article (http://www.dsnews.com/articles/florida-courts-petition-for-nearly-10m-to-clear-foreclosure-backlog-2010-03-30) is to be believed, there are over 500K pending foreclosures in the Florida court system.If you add in the backlog of delinquent cases that haven't made it into the court system, strategic defaults, additional defaults from a record 12+% unemployment and 8+% underemployment, Option ARM reset, the end of the Fed MBS purchase (which could trigger interest rates to go up 250 basis points = less qualified buyers) and the end of the tax credit (why they would allow both of these to end at the same time puzzles me); I see a lot of hurting to come.

The only way I could think of would be to create a temporary LLC that dissolves pending specified conditions are met example: end of project, pay out period of title company etc. 

In short, they want to tie the property up for approximately three months pending results of their application.

Notify tenants of the pending change, in writing;2.

If no luck after a while), which my first few years of the mortgage payments will be pending on it and hopping not to dip into to my reserved money.Yes, I’ve to live in the house for any of the 2 continuous years out of a 5 years period in order to qualify Home Owner Occupancy term, so when I sell the house later, I can deduct 250K (or 500K, if married filing jointly) from the sale price of the property, and pay capital gains tax on the difference.

Example: If there are 1,000 pending auction/foreclosure homes/month, I will find and narrow down to about 50-75 in areas I want.

HelloSo how would one go about finding out if there is pending/potential litigation against a property?

I have never had that happen, but I would be curious, is the conveyance simply set aside at a glance pending further diligence to understand value and equity or is diligence conducted and by someone's (creditor?)

I'm curious to know what ultimately happened with this pending sale.

@Nick Bitz....Congrats.I have an offer pending and i hoping to be as excited as you are!!