Under the Protecting Tenants at Foreclosure Act of 2009, most tenants cannot be automatically evicted when their landlords are foreclosed on. Whether the home is sold at foreclosure auction or it is retained by the bank, the law gives tenants additional time to find a new place to live. If you have a written lease, you are allowed to stay in your home until the lease expires. If you are a month-to-month tenant, you are entitled to 90 daysâ€™ notice before your new landlord can evict you.
The law contains one major exception. If a new owner buys your home at foreclosure auction and plans to move into the residence, you are only entitled to 90 daysâ€™ notice before being forced to vacate. This exception applies regardless of the terms of your lease.
Read more: http://www.ehow.com/info_12016392_tenant-rights-during-forec