Yes, you still owe rent. The owner of the property remains liable to the lender. Even if the owner is not current on his/her payments, the liability remains. The owner may work out the obligation with the lender thorugh any number of potential options. A short sale may leave the owner still liable to the lender. The owner could restructure his/her loan, enter a repayment plan through bankruptcy, etc. The only reason for you to not make your rent payment is if you lack the ability to do so for a very good reason.