1) Enter into some sort of lease agreement with them
2) Accept cash for keys (this is where they give you money to move out by a certain date)
3) Wait to be evicted
When a person purchases a home their mortgage documents generally state that the lien holding bank may go after any rent a property collects if the owner doesn't pay his/her mortgage.
Even if a person isn't paying their mortgage a renter still is obligated to pay rent if the lease says so as the owner still owns the property.
Lessee's can make an argument to vacate property and cancel a lease if the landlord isn't paying their mortgage but a lessee can't stay and not pay mortgage.
There are scammers out there who may pretend to be the bank with the loan on the property so be careful not to pay rent to a scammer.
When in doubt, get a lawyer. Erik Miles at 312-854-8092 is a great one.
Have you looked into buying a place? Did you know the State of Illinois may give you $7500 to help you buy a home?
Contact me if you'd like to talk