After selling my house, I decided to lease another house for a year or so. I have been in the house since August 2007. I have paid my rent and a $2500 deposit. The owner has not paid the mortgage in 5 months. The house is scheduled for foreclosure on Dec. 14, 2007-In Va.
Do I have any rights? How long can I stay in the house? My children are already upset about moving once this year, but not again at Christmas Time.
The owner mortgage holder is Option One. They will not give me much information. Should I attend the sell on the court house steps? I really need to plead my case... please help...

I just had a discussion with my Real Estate Broker about this. Unfortunately, you are in a very bad position. You need to make arrangements for another place now. They can have you removed in as little as 48hours after taking possession if they are nasty. Getting your deposit is going to be difficult as well. I'm sorry I don't have better info for you. It is something, I feel, needs to be addressed by law - renters that pay on time and do what they are supposed to do shouldn't be tossed into the street.

You basically have no rights, And to make it worst, if he is being foreclosed most likely he does not have your deposit money to give you back either.
Your lease is void the minute the gavel falls and the house sells. And I have seen notices of as little as 3 days to move out, and some have fought it in court and gotten 30 to 60 days to move. But if you know it is selling on a certain date you need to get moving.

Well you really screwed up when you LOST your house.