In any event, you do have options. Best of luck to you.
How long you can stay in the home after foreclosure depends on if you have a lease or a month to month rental agreement? Both the Federal Government and California have passed laws to protect a renter when the home is foreclosed. If you have a lease, you can stay till the end of the lease term under most circumstances. If you have a month to month rental agreement, you must be given 90 days notice to move. However, it appears these laws may only apply if you are not in default under your rental/lease agreement. I have attached an LA County website that speaks to your protections as a renter. Perhaps you can call the Dept of Consumer Affairs if you need additional information.
None of the information above should be considered legal advice. I am not an attorney. Only an attorney who understands tenant's rights can give you legal advice on your situation. I only caution you, you need to get this advice before you make any moves that may cause you to lose your rights to remain in your home. Dare to Dream.
Shel-lee Davis, CDPE, SFR, QSC
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
Tell old landlord u know the bank owns it.
you can wait for the bank to ask you to vacate or you can sit tight and wait until they re-list it for sale.
A real estate agent will probably contact you.
the bank will sell the property - sometime it takes awhile for them to get an agent assigned.
Once that happens, they may or may not evict you.
You can try contacting the bank directly if you have a contact number on the notice u received.