I'm in a lease option. In Las Vegas the owner is going thru a loan Modification?

Question

Are we in jeporady of losing the opition on the house.

If the house is in default can we get our down payment back and get out of the lease.

Answer 1

Yes you are in danger of loosing your money and possession of the house.

You have few if any rights to anything.  The only person you can go against in court would be the current owner and it sounds like he has no money.  If you can buy it right now you might be OK but otherwise it sounds like you will never get any money (or house) out of this.

Answer 2

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of Donald Loan Firm Inc.