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Decoding County Assessor Property Information- Does the Landlord still own the home I am renting?

Bankruptcy and Debt 4 views 2 answers
Need help in CA So, I completely understand that the landlord, as long as they own the property can collect rent. My landlords have defaulted on their home, the one I'm renting, as of Aug 08, 2011. I have the Notice of Default from the County Assessor, it's public information...I got suspicious when I started receiving the landlords mail: Wells Fargo, Trustee Service, etc. I paid August rent but I havn't paid September...I told the landlord I would like to speak with them and we're meeting this weekend. I have a month-to-month lease and I have been living here for 2 years. I am going to attempt to negotiate these last two months rent... If I pay for September and move in Oct they will lose October's rent and have to return my 1900.00 security deposit so they'll be out $3800. I am going to propose they keep my security deposit of $1900 and $500 for Sept and $500 for Oct. That is $2900 they would gain if I stay. A win-win situation : ) BUT, I went on the assessors website this evening and their are new entries under their names. The recent documents are as follows... * 09/07/2011 ASGT Trust Deed Grantor(s): COUNTRYWIDE HOME LOANS INC MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC LANDLORD ANGELO Grantee(s): BANK AMER B A C HOME LOANS SERVICING L P COUNTRYWIDE HOME LOANS SERVICING L P *09/13/2011 ASGT Trust Deed Document Type: ASGT TRUST DEED Grantor(s): MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC LANDLORD MARIA FELICIA LANDLORD ANGELO A Grantee(s): DEUTSCHE BK NATL TR CO TR AMERICAN HOME MTG INV TRUST 2007 A I know the grantor is the seller and the grantee is the buyer. With that in mind the landlord's are not listed in the grantee column anymore... So who owns the house I am renting? If the landlords don't own it anymore then I do not have to pay them.. Did the previous lender sell the mortgage to another lender? Please, Just need help deciphering this mess... Thanks in advance, Michelle in CA

Attorney Answers

2
Frank Chen ·
This appears to be merely an assignment of the Deed of Trust, not a transfer in ownership (which would show as a recordation of a "Trustee's Deed Upon Sale"). As such, your landlord is still the owner and you should continue to negotiate with the landlord regarding payment of the rent you owe.
0 upvotes
Michelle A. PerfiliBusiness AttorneyLakeside, CA ·
I concur that the transfer above shows that the debt holder has changed and therefore the security for that debt (the deed of trust) has been assigned. For example you can go online and see the acquisition of the Countrywide portfolio of loans by Bank of America. If there is a Notice of Default ("NOD") and a pending foreclosure, you can contact the "trustee" noted in the NOD and find the status of any proceeding (many have phone numbers or updated web information). It is not a good idea to with hold rent as you will be in breach of the rental agreement until the Landlord/owner actually, if at all, loses title. There may be a "work out" , forebearance or even possibly a cure of the default in progress and therefore your Landlord may still be your Landlord in the future and IS your Landlord during the notice period and prior to any sale.
0 upvotes

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