You need to continue to pay the rent to your landlord even if he is losing the home as your lease contract is with him; not the bank.
If you do not pay your rent, then you may be subject to late fee fines or even eviction. Check your lease to determine the ramifications.
The owner's lender or a real estate agent representing the bank will contact you when the time comes for you to vacate.
Prudential Connecticut Realty
The bank cannot boot you from the home until your lease is up. They might try and you may get an agent knocking at your door who represents the bank but you just need to remind them of your rights and give them a copy of your lease. Any problems after that and you can always refer to the MN Attorney General.
Continue to pay your rent on time, and be prepared to move when the lease is up. Or, maybe you want to purchase the property, or another.
Send a note if I can be of further assistance.
In Minnewsota the owner have a 6 month right of redemption so it will not become lender owner for at least 6 months after the sherrif's sale.
If you have a legal oblligation to pay you should.
I handle short sales in Eden Prairie maybe I could give your landloard some help at no cost to them.