I would think that you're supposed to continue paying rent, regardless of what his situation with his mortgage servicer is. I would not know if there are any law(s) that would apply specifically to this sort of situation, but this has become a rediculously common scenario, so I'm sure there has to be something there. I would like to hear an attorney's response to this question.
Senior Loan Officer
Sterling National Bank
If the lender forecloses and asks you to leave, then at that point the landlord hasn't followed through with their contract with you. So, then you would have the right to stop paying (in my opinion and I'm not a lawyer).
I know it doesn't seem fair does it? If I were you, I would try to finish out the lease and be looking for a new place to live. Eventually the bank will foreclose, and even if the bank allows you to stay, they generally are not good property managers.