Owner Walking away from house and going into BK?

Question

I have a lease option on a house in las vegas we have paid the owner the last 2 months rent but he didnt pay amtrust bank so he is 2 months past due on mortgage . Going into bk in the next 30 to 45 days. Is he in default of the lease option> We paid him in good fath. Do we have to pay the note on the house to him this month. How long until we have to move.

Answer 1

small claims court...probably the only way to get your money back.

Answer 2

His mortgage papers say "and Assignment of Rents" at the top.  If he doesn't pay the mortgage, the bank is supposed to receive the rent each month.  Not fair for him to pocket the rent and plead poverty to the bank.  If you can find the bank, you can pay them.  Pay by check.  Your lease will be wiped out by the foreclosure.  Doesn't matter that you had an "option".  That is also wiped out.  The sheriff will escort you out sometime in the next 90 days.  .