Hi Sara

This is happening more and more. I am working with a couple that is on there third rental. Before you move into your next rental check the tax records to determine when the landlord purchased the property and verify they are not behind on payments. Call me if you would like to disucss.

While you want to do your due diligence and contact the trustee and check court records, it is certainly appropriate for you to directly ask the owner of the property what is going on. The owner may have intentions to cure the default and reinstate the mortgage, assuming that option still remains for the owner.

The foreclosure process in CA goes through two stages. The first stage is the notice of default, which lasts for a minimum of 117 days. During this period, the homeowner has the opportunity to cure the default. If that doesn't happen, the second phase is the notice of trustee sale, which lasts a minimum of 21 days. At the end of this period, the property goes to auction, and is either sold to the highest bidder, or repossessed by the bank. So if the foreclosure goes according to schedule, the entire process is only 138 days. Depending on when the process started, you probably have less time than that.

As a renter, you're in a pretty vulnerable position. If the home goes to the bank, you'll likely be asked to leave. If an investor buys the property, he or she may be interested in keeping you on as a tenant. It would be a good idea to start exploring your options just in case. And if you can find out who the Trustee is (the attorney handling the foreclosure), you might be able to get an idea of how likely it is that the property is going to be foreclosed on.

Good luck!

There are a lot of options, how did you find out? Letter in the mail or did an agent show up? Do you have your original contract when you moved in? I do foreclosures here in Modesto and I may be able to help you find a new place, and let you know your rights and options.

NickCameron@kw.com