Finding out if your prospective landlord is about to go into foreclosure is simply a good idea for any tenant who is contemplating renting. You don't have to wait until the Sheriff shows up at your door with an eviction notice. You can be notified immediately when a Notice of Default is filed by your landlord's lender, indicating that a foreclosure process has begun.
Here is how to find out if your landlord is in foreclosure.
- Call a local title company and ask for customer service.
- Give the customer service rep the property address and ask for a free copy of the first deed of trust to be emailed to you.
- Print the copy of the deed of trust, because you will need to know the document number, book, page, name of beneficiary (the lender) and name of trustor (the landlord).
- Go to http://www.foreclosureforum.com/forms/request_notice.pdf to access a free Request for Copy of Notice of Default.
- On your computer, fill in the blanks with the information above from the deed of trust, and enter your name and address in the space provided.
- Print the Request for Copy of Notice of Default.
- Sign it in front of a notary.
- Attach a check for $11 made payable to the Sacramento County Recorder.
- Mail it to the Sacramento County Recorder, P. O. Box 839, Sacramento, CA 95812-0839.
The Request for Copy of Notice of Default will be recorded upon receipt. Then, if your landlord's lender files a Notice of Default, you will receive a copy of it in the mail. Foreclosures in California take about 3 1/2 to 4 months to complete. This time period should give you ample opportunity to work out the problem with your landlord. You might also consider asking if your security deposit can be applied to rent because once the foreclosure is complete, your lease is no longer valid, and you might not get your security deposit back.
If you prefer to handle the entire procedure in person, you can go to the Sacramento County Recorder's office at 600 8th Street (at the corner of 8th and F) and pull a copy of the deed of trust. Take the Request for Copy of Notice of Default with you and fill it out at the Recorder's office. Get it notarized, pay your eleven bucks, and you'll go on record that afternoon, providing you arrive before 3 PM. The Sacramento County Recorder's office is open from 8 AM to 5 PM, Monday through Friday. Same-day recording hours are from 8 AM to 3 PM.
Tenants in foreclosure should know that California law gives tenants the right to receive a 60-day notice.
Photo: Big Stock Photo
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Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available through bookstores everywhere and at Amazon.com.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.
The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
