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Oh my gosh, that sucks! Look at the bright side, now you can take him to court and get twice the amout back. Depending on the state rules where you live. FYL indeed!
So you don't have to leave until the new owner makes themselves known. Then if te new owner wants you out, they have to pay to move you. In any state: as the renter you are protected because it isn't your fault the mortgage wasn't paid. Getting a renter out is more difficult than an owner. Call your landlord/tenant hotline for your state to verify your rights.
Speak your mind, but please try and be respectful.