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What are my rights if the landlord says that he is no loger going to pay the mortg.and allow the property to go into foreclosure

What are my tenant rights if the lanlord does not pay the mortgage and allows the property to go into foreclosure?

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Attorney answers (1)

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The landlord's obligation to pay the mortgage is governed by the terms of the agreement between the landlord and the lender. Your obligations to the landlord are determined by the terms of your lease. If and until the landlord loses the property in a foreclosure action, the payment or non-payment of the mortgage has virtually no effect on the terms of the lease (unless that particular issue is addressed i the lease).

After the property is foreclosed, the lessee has rights determined by state law and, since this May, by federal laws that protect renters in most situations. Under the new federal law, renters may stay for the term of their lease and month to month renters have an additional 90 days under most circumstances.
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