if the landlord is not paying the mortgage and putting property up for sale do the tenants still have to pay rent

Asked by Timothy Brown, Stratford, CT Tue Jun 11, 2013

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Curly Sue, , Texas
Tue Jun 11, 2013
Yes...of course. Their mortgage isn't any of your business.
0 votes
Lisa Orme, Agent, Windsor, CT
Tue Jun 11, 2013
In a word, YES. Your contractual agreement with the landlord says you will pay him, and he will let you have use of the living space you have contracted. What he does with your money after you pay him is his business. That being said Tim, I would certainly be making plans for something that is a bit more stable for you and your family. Chances are that your landlord is in a difficult financial situation and is trying to make ends meet by "robbing Peter to pay Paul". Worst case scenario is that the property goes into foreclosure and you will be dealing directly with the bank at that time. Most mortgages have a clause regarding assignment of rents, so once the bank gets involved, they will contact you and instruct you regarding your rental payments. You will have a couple of options at that time: vacating the property, you may be able to negotiate with the bank "cash for keys", or perhaps the bank will allow you to continue to rent the property for a time. You are free to contact me by phone if you have any other questions...
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Tue Jun 11, 2013
No free lunch for you. You have to pay and not worry about what others do.
0 votes
Minna Reid, Agent, Trumbull, CT
Tue Jun 11, 2013
YES. Your rental agreement has absolutely nothing to do with your landlords mortgage.
Web Reference:  http://www.homesbyminna.com
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