Title: What Happens When Your Landlord Doesn't Pay the Mortgage to the House You Live In? | Pocketsense
Headings: What Happens When Your Landlord Doesn't Pay the Mortgage to the House You Live In?
What Happens When Your Landlord Doesn't Pay the Mortgage to the House You Live In?
Your Lease
Your Rent
Foreclosure
Other Considerations

Content: The act provides for leases to survive a foreclosure, and tenants without leases, called month-to-month tenants, must be given 90 days’ notice to move out. An exception is made when the new owner of a foreclosed property intends to live in it, in which case leases may be cancelled with 90 days’ notice. Your lease remains in force, and is a contract between you and the new owner. You should receive legal notice of the transfer of ownership and your rights and obligations, including payment of rent. Other Considerations
When properties are foreclosed, the lenders who usually assume ownership are not interested in spending more money than they have to, and will be reluctant to perform any but the most critical repairs. In addition, federal law notwithstanding, they may try to persuade tenants to move out, so they can show and sell a vacant property. If your landlord is out of the picture and you’re dealing with a lender who’s anxious to persuade you to move out, insist that its agents substantiate whatever they tell you in writing, and document all your dealings with them. References
Realty Times – Collecting Rent and Not Paying the Mortgage
The Phoenix Real Estate Guy – Should I Keep Paying My Rent? My Landlord Is in Foreclosure
Nolo Foreclosure FAQ: What Happens to Renters When a Property is Foreclosed On?