Let us know if this is NOT what you mean.
If our assumptions are correct, that is a concern - especially these days.
Many legislatures are taking this problem into consideration and/or passing laws to TRY to address the situation.
As a prospective renter, you should definitely consult your leasing agent expert (if you don't have one, it's a good idea to get one!) about this.
You may want to consider asking a potential landlord to provide you with some type of reasonable proof of mortgage payment - at the beginning/before you sign the lease, and, perhaps, monthly.
Good luck to you!
To receive the maximum protection under the law you will need to follow up on the foreclosure proceeding. Most laws are time sensitive and a delayed response can lead to a forfeiture of your rights. To receive the maximum protection of your rights you will need to know if and when the property is auctioned. You can track the foreclosure process through public records or by clicking the link here, http://foreclosurecourt.org/foreclosureprotection.html
The other thing is the foreclosure process here takes a very long time. At least 18 months to two years and sometimes even longer depending on what the landlord decides to do about the situation. For example he may apply for a loan modification or file for bankruptcy, both of which could delay the process even further.
To protect yourself as a tenant, make sure you pay your rent on time and keep your security deposit up to date (it will be transferred to the bank as landlord if and when the bank takes over). Your rent should continue to be paid directly to your current landlord as long as they still own the building.
You can also check the NJ consumer affairs website for more information here: http://www.state.nj.us/publicadvocate/public/issues/tenants_