if you have a month to month lease then they are required to give you 30 days notice to leave if the person who purchases the house wants you to leave....
I have some sellers who have moved or had tenants in place or put tenants in a house with the house on the market...The seller/landlord should ahve informed you prior to you signing the lease. he has to get your permission to show the house anyway.
As noted, if there was some provision in your lease saying that the lease could be terminated if the property were sold (usually there isn't), then your lease could be terminated upon sale.
Yes, you certainly should have been informed that the owner was trying to sell the property. But now the owner probably has painted himself into a corner. Having tenants with a valid lease in there--you--is going to make the house much more difficult to sell. As a result, the owner might want to buy you out of your lease. Or you might want to approach the owner and say: "You know, we have a current lease that runs until xxxx. That may make it very difficult to sell to someone else, since our lease will remain in effect until xxxx. But if you'd like us to move out sooner--maybe when you sell the house, maybe sooner--we'd be willing to consider allowing you to buy us out of our remaining lease."
See a lawyer for more information.
Hope that helps.
They probably have been collecting your rent for a long time and not passing it along to the Bank; in addition to not paying their Mortgage.
You will eventually be contacted by a rep of the Bank about moving and possibly some "Moving Money"
Good luck and may God bless