Legally, the owner, when he collects rent from you has to use the rent money to put toward his loan. If he goes into default then technically he cannot take rent from you. I have a friend who is living rent free in her house because the owner is in default. She is sitting tight until she receives an eviction notice.
Legally, the owner, when he collects rent from you has to use the rent money to put toward his loan. If he goes into default then technically he cannot take rent from you. I have a friend who is living rent free in her house because the owner is in default. She is sitting tight until she receives an eviction notice.
