Were you buying the house on contract? Have you been making payments to the sellers? If that is the case, take a look at your contract; there may be something about what to do if the sellers default on their mortgage. Frequently, the buyer (you) can make payments directly to the bank.
I suggest you consult a Texas real estate attorney. He/she may be able to negotiate with the bank to protect your interest/equity position.
If you could clarify, it would help out greatly.
Century 21 Diversified