In any case, whether you opt to stay or go you have several options.
Alternatively, if you don't want to buy the property, then you could still approach an investor, ask if s/he is interested in purchasing that property as a short-sale, and tell him/her that you'd like to continue renting there.
In either case, you'd be bringing a deal with nice upside to that investor, and you should even be able to negotiate some kind of discount on the rent or sales price as a thank-you for bringing that deal to him/her.
Besides the "we buy houses" people, you could also market this deal to people in one of the local REI clubs in your area.
Start renting another home without employment? Rental verification which will show that they are committed to a 12 month lease?
Slow down, exhaust all options first. Let`s not throw the home out with the bath water.
Find a place to move to and then after you have a commitment don't pay any more rent. Arrange the lease on the new rental so that you are in the home you are living in a strategy that you are continuing rent using the deposit money because it the land lord/owner was given that money, you'll probably never see it.
You need to do what is necessary to protect your self and your family.
Best of luck,
We have all been thrown under the bus, the trick is to get out from under.
You need to review your lease, and speak with your property manager. Find out where you stand, and at what stage of foreclosure ( if it is a foreclosure ) your rental is in.
Is the home in a Short sale? What did you sign? Who represented you in the rental?
When will you have to move?
What will happen to your security deposit?
What will the property manager do to help you?
I would really like to help you, however I am not an Attorney, and I can`t play one on Trulia. Let`s keep me from being thrown under the bus.
You state that you are currently not working, so affording legal advice may be a challenge.
The good news is, The property manager can answer MOST of your questions. You will need to be Calm and persistent with the property manager.
You need to have a working relationship with the property manager.
Stay calm you have a few months to make plans.
If you got Scrw`d...you got Scrw`d. Move forward, and do what is best for your family.
Find out who owns the house (the lender). Nobody wants a house vacant and if you let them know that you are currently occupying the home and are able to pay rent, the lender MAY offer you a rental agreement based on income. It's no guarantee that, but I KNOW that they are willing to work out deals right now to keep from homes going empty. The house has to have someone representing it, be it an attorney, realtor, auction company, etc. Find out who has it and get the lender information and call them to try to work something out.
Sorry to hear about your unfortunate situation. However, next time, make certain that you get proper and independent representation when you rent. You are not obligated to use the propery owner's representative. You are allowed to hire your own real estate agent, who could have alerted you to this potential danger and/or protected your deposit money. So, hire your own independent real estate representative next time.
That being said, there is an organization that may be able to give you the information you need to make good decisions. It's called the Arizona Tenants Advocates. http://www.arizonatenants.com . 480-557-8905
Hope this helps.
Buyer's Agent Realtor