Thanks for everyone’s comments – especially UR. I really appreciate the different prospectives on my situation. Unfortunately I did not discover that the condo was in distress until over 1 year after I lived there – when the first NTS arrived on the front door. Like UR, I thought it might not be a bad thing if the bank did foreclose but it did not happen then. I just didn’t think it would happen AGAIN!

Interestingly, UR told me the property is not listed as a short sale, even if it is priced optimistically. I’ve not heard from landlord since condo was put on the market for sale. At least now I know what my negotiation points are if she wants to show the place. 😉