When Does Acutal "Foreclosure" Happen? Renter in possible foreclosed home

[MRBarton]

I've been researching for several months trying to figure out if the home I am renting (in San Antonio, Texas area) is foreclosed. Moved in May 2011 with 1 year lease. Starting seeing suspicious mail for owner (looked like bill collections, etc.) A note was on our door a couple months ago to "Call Wells Fargo ASAP". Also several envelopes from Wells Fargo Mortgage have been in the mailbox. Started doing research and found where "Corporate Assignment Deed of Trust" was filed in September and Wells Fargo is now Assignee (MERS was beneficiary and Everett Financial DBA Supreme Lending was original lender . The deed of trust also has "When recorded return to Default Assignment Wells Fargo Bank, NA". Pulled the original deed of trust and there is a power of sale clause. Looked on MERS and it shows Wells Fargo as the current servicer and says MIN is inactive. I constantly check the County Clerk's office for postings of foreclosure sales and haven't seen the home or owner listed. I also checked the appraisal district and it still shows my landlord as the owner and that the taxes had just been paid on Oct. 2011 (after the assignment to Wells Fargo) From what the neighbors say, the owner bought this house in 09 with first time homebuyer credit so I'm sure HUD is involved. My question is, how will I know that the house has been foreclosed? I've checked HUD website for answers and that has been no help. Is the house not foreclosed until it is transferred to HUD? The owner is using a property management company who I pay the rent to each month (I don't want to ask them yet as they have not been the most friendly or helpful people to deal with). I am currently building a home and hope I don't have to move before I can move into my new home. Also don't want to screw anything up with my home financing for the house being built. Any help or information that could lead me in the right direction would be much appreciated.

[Evan Bedard]

Welcome and thanks for joining the community. If the property did go to foreclosure there should have been a Notice of Sale placed on the home. Here is some information on California renters' rights in the event of a foreclosure..

If you live in the City of Los Angeles, renters in good standing cannot be evicted because of a foreclosure. If you live anywhere else in California, renters get until the end of their lease, or at least 90 days, to move out in a foreclosure.

CALIFORNIA RENTERS (outside of the City of Los Angeles)

How long can I stay?

According to U.S. law, which went into effect in May 2009:

If you have a written lease with your landlord, you cannot be evicted until the end of your lease.
If you do not have a lease, you must receive at least 90 days notice before you have to leave the property.

What notice will I get?

According to California law, your landlord does not have to tell you the home you are renting is in foreclosure. But before the home is sold, a “Notice of Sale” must be posted at the home along with some information about your right to continue to live in the property.

Once the home is sold, the new owner (bank or third party) must attach a cover sheet to the notice of termination of tenancy providing information about your rights to stay in the property.
Who do I pay rent to?

Until the home is sold, you must continue to pay your monthly rent to your landlord. You owe rent to the new owner once the home is sold.

If the new owner wants you to move out, they must give you a 90-day written notice. If you don’t move out within 90 days, they can begin the eviction process. The new owner cannot cut off your utilities, change the locks or make other efforts to throw you out.

Renters in Foreclosure