Preforeclosure "subject to" and Bankruptcy

[Josh Kindlesparker]

If I buy a property "subject to" from a seller in Preforeclosure. I make up the back payment of $7500. What if the seller then files Bankruptcy? What protects me, if anything, from loosing the property and cash?

Is there any way to protect myself. I plan on selling the property with a lease option. I do not want to loose my money or my buyers money.