1. let current owner know you will be putting your rent into an escrow account from the NOD date until foreclosure. If the owner successfully avoid foreclosure and sell to another, he gets the money. otherwise the money goes back to you.
2. for the inconvience of having to keep the home show-ready, bargain for an immediate decrease in rent.
3. contact an attorney that specializes in renter’s rights. powayseller recommended this one before, http://www.tenantslegalcenter.com/, I used them with excellent result as well. they’re based in SD. If you are elsewhere maybe they’ll help give you referrances.
4. Soholaw is right, the lease do transfer if someone decides to purchase from your lender. that’s why escrow account may be better than stop payment on your rent, because the new owner would have to honor your prior lease, you want to still be in good standing.
