A reader writes in: It's Saturday and I'm enjoying a quiet afternoon. Suddenly there's a loud knock at the front door. I'm not expecting anyone so I'm curious to see who knocking so aggressively.

I open the door and there's a woman standing there with a clipboard. She asks to speak to the owner of the house, Mr. X (not his real name). I advise the woman that he doesn't live here anymore, I am a renter and he is my landlord.

The woman replies "have Mr. X contact Countrywide as soon as possible." I ask woman what's this about and should I be concerned. She is unable to tell me anything and reiterates for the owner to contact Countrywide immediately.

I am now alarmed by this visit from a Countrywide rep. Did my landlord take out an adjustable rate mortgage? Is he behind in his mortgage payments and if so where is my rent money going? I live is Sacramento, CA.

I immediately went to realtytrac.com and notice there is a huge amount of NOD's - apprx. 700 but I didn't see my street in the list. I'm concerned about what my rights are as a tenant. I plan on buying a house in Jan/Feb 2008 and I have no intention of over paying. I'm waiting for an additional 20% decline plus I'm still saving for the down payment. I'm happy to wait and watch the train wreck. Besides, in order to meet the conservative credit guidelines (max 41% ratio on the back end) prices have to come down.

Sincerely--a buyer who's staying on the fence.

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