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what does a Notice of Voluntary Dismissal and Release of Lis Pendens, mean?
Already Tried: Nothing, still trying to speak with lawyer. I have some unpaid home owners dues and was sued and the association sued me and citibank to foreclose, if i pay the bill, which i will they will file a Notice of Voluntary Dismissal and Release of Lis Pendens. i want to know what effect this will have on my credit rating and what effect it will have on my relationship with my lender?
A 'lis pendens" is a notice to the "world," filed with the county/township/parish clerk, which informs anyone with an interest in the real property identified in the lis pendens, that there is a "legal action pending," in which the real property is at issue.
The lis pendens also identifies the case name and number so that any interested party can intervene in the case to protect their interest.
The lis pendens also tells persons who may be interested in purchasing the real property, that their interest, should they purchase, will be subject to the court's decision (which could, among other things, completely destroy the purchaser's interest).
A "Notice of Voluntary Dismissal and Release," is notice to the "world" that the person who recorded the "lis pendens" no longer seeks to inform interested parties of the pendency of a court action concerning the real property. This may be because the court no longer has jurisdiction, because the case settled, or because the court has rendered final judgment and ruled, or because the party who filed the lis pendens requested that the case be dismissed (this is the likely reason).
BotXXXXX XXXXXne: check with the court to confirm that the case has been dismissed, and if it has, then there is no longer any cloud on the title to the real property -- in other words, it will be as if the lis pendens were never recorded in the first place.
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So how would this action normally effect my credit rating assuming the voluntary dismissal is filed??
Credit report doesn't pick up "lis pendens" or voluntary dismissal recordings (or, at least it never has in the past, but that's no guarantee that a credit reporting agency couldn't start looking for such things). Only final judgments are picked up.
So, no effect.