Final answer:
A lis pendens filed in a foreclosure serves as a notice of a pending lawsuit, indicating that there is ongoing litigation concerning the property which may affect its ownership.
Step-by-step explanation:
A lis pendens filed in a foreclosure is a notice of a pending lawsuit. The term “lis pendens” is Latin for “litigation pending” and is used to indicate that there is a lawsuit pending over the title or possession of real property, which could affect the property's ownership. When it comes to foreclosures, the lis pendens gives public notice that the property is the subject of litigation, and typically, it is filed when the mortgage lender initiates foreclosure proceedings against a borrower who has defaulted on their mortgage payments.