gn – That’s about what I figured too. I do remember reading something recently about some legislature for renters in this situation, however I don’t recall if it ever went through, let alone if it was for CA.
DWCAP – That’s exactly what I plan to do when I pay the rent (I drop it off usually).
patb – My understanding is that my contract with the LL is independent of their ability to pay the mortgage. Until they are no longer the owners, I am liable and can be sued for non payment, court costs, etc. Please correct me if I am wrong.
Additionally, how does one go about doing the escrow option?[/quote]
I usually feel the “you are arnt paying your morgage so I wont pay my rent” thing is some sort of Morality issue. As far as I know, you owe rent to the LL until he no longer owns it or you move out at your contract end date. If he looses it while you are renting, then it sucks to be you. Take him to small claims court.
Most likly the guy will be honest with you if you are honest with him. Especially if you already know. Most people are not the aholes we credit them with being.
If I am wrong, please let me be the first to say I am sorry for your hassel. Just be glad it isnt you loseing the house. 🙂
I have no idea about the escrow option, that is something you would have to work out with the LL.
