Help me understand why some of you say it is not the renters business what the landlord does with the rent money. Rent is given to the homeowner in expectation that the roof over their head is secure. If you knew that you were in default and you had no intention of paying the mortgage. And didn't inform your tenant. That is stealing and fraud.
Want your opinion. What do you think about owners taking money from renters. After they defaulted.?
I agree that it's morally wrong.
Reply:Rent payments are your protection, having nothing to do with the present landlords choices. If you make timely payments to the landlord of record and keep the receipts, any foreclosing entity must honor the services for which you have already paid. If you make the choice not to pay, the forecloser will then have the right to begin immediate eviction proceedings against you because you have breeched the contract and have no rights to the rented property.
Reply:Rent is for a given period. If the home is intact for that period, the landlord has met his obligations. That the lender might forclose means nothing because anyone who takes title, including the lender, takes it subject to your rights. So, if the bank ends up owning the home, the bank will have to honor the lease. The landlord is not stealing from you. He agreed to provide a home in exchange for money and has done so.
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