Tentant that found out Home is in foreclosure

[Lisa Varilone]

I am leasing a home in Milan Michigan. With rent to own option. I just found out the owner of the property is getting foreclosed on. The sheriff sale is 5/5/11.
I'm so upset, because I have done work in this house and thought this is where we were going to live. I did all my kids bedrooms in a theme. They feel this is their home. I'm not able to get a mortage for 1 yr or 2. My bankrupty will be discharged 2 years this July.
I'm trying all options. Maybe someone buying the house and renting it to me. When I am able to purchase it from them. The price is around 120,000 or 127,000. We have been paying 1300.00 a month in rent. We have some money we could put down.
I would appreciate any input you have. If you can't help us, maybe you know somebody that can.
Thanks,
Lisa Varilone