[jstnrgrs]

His arangement with the bank is between him and the bank, and has nothing to do with you. You have agreed to pay him in exchange for your room, so as long as he provides a room, you are obligated to pay rent. What happens between him and the bank is none of your buisness.

Of course, if you want to be just as much of a douche as him, you could stop paying rent, and live there rent free untill you are evicted, but that wouldn't be any better than what he is doing.