You will be served with an eviction notice it could take several months. I would been your search for a another location lease. Sorry to hear what has happened contact the landlord
http://www.lynn911.com http://www.homes-for-sale-dallas.com

Check your source.
Trustee sales are conducted uniformly across the state of Texas on the first Tuesday of the month. August 5, 2008, is a first Tuesday, not the 18th. Someone is funning you or sadly mistaken. Other foreclosures are possible, though, just not a trustee sale.
But, even if some other type of foreclosure occurred on the property, evicting you will take a while. A bank trying to foreclose and evict you would likely give you time to find a new place, pack up, and get moved, plus give you some traveling change to boot.
What to do? Take a breath. Don't panic. Yes, you might get short=changed on your security deposit, but if a foreclosure happens, you'll be staying rent-free until you leave to make up for that. If a sale happens, they'll probably pay you to get out, too.

Heath, This is a tough situation and I am sorry to hear about it.
1. You should call the landlord or property management company immediately and ask about the situation.
2. Call a local title company and ask them to check on this for you to see if it has been posted for foreclosure and see if they can give you the trustee contact information.

If indeed it has been posted for foreclosure and will be sold at the auction you'll have to wait and see who buys it and what they want to do. If the bank buys it back, then likely they will want you out of the house shortly after the sale or within 30 days. If another investor buys it, they may want you to stay there on a month to month basis as well and pay them.
If you are in Canyon Lake TX something does sound a little wrong. The trustee sales in Texas take place the 1st Tuesday of every month.
Have you received any "we'll save you from foreclosure" letters in the mail. Have you had any foreclosure notices posted to your door?
You may have a tough time getting the deposit back if they have indeed been posted for foreclosure. If they don't have money to pay the mortgage they may not have money to pay the deposit back.
Good luck.

I'm sorry, I thought you were in Canyon Lake, CA but the same goes, just google Texas Real Estate Laws and go from there and contact the local Assn of Realtors if you think they're in the business. Again, Good Luck

Heath, contact the customer service desk at a local title company, like First American, and ask them for the most recent recordings on this property. They'll do this free of charge. You should have been receiving notices in BIG LETTERS taped to your door giving you some idea as to whether the house was in foreclosure. Did a Realtor have a listing on your house? If so, call them. As for the deposit, call the owners, again. I'd hold onto the rent until they respond and you might even send them a certified letter stating your concerns, telling them you're holding the money until you have heard from them. If you haven't heard from them by the 10th get an Attorney or go onto the California Dept of Real Estate http://www.dre.ca.gov and research renters laws and whether they are licensed realtors. Remember just because you have a conversation with them doesn't mean there aren't problems. Call a title company first. It's fast, efficient and will let you know exactly what the status is of the property. It will also tell you who the Trustee is and their contact information. Good Luck!!!

Heath,
How did your friend find out about this sale, they should have the name of the Trustee if they know of the sale. Those sales are usually on super Tues.. Which is not the 18th. Contact your landlord, if you get no response do so by certified letter. Ask you friend who told them what and contact an atty if this seems to be the truth.
Margaret.

Wow. This is a bad situation. Whoever buys the property will have to give you some notice to move out. Call your county and ask for the Rights of Renters in your state.

The really bad part is that the current owner has your deposit money. You may have difficulty ever getting it back. I would suggest that you contact a property management Realtor or an attorney and seek advice. They may suggest that you withhold this month's rent because you will probably not get back your deposit, but since I am not an attorney, I cannot be sure that is the best decision. You might try Small Claims court to collect the money the current owner is holding to which they are not entitled. However, if they have no money, it might be a moot point to try to collect.

Next time you might want to lease through a respected real estate agency rather than an individual. Good luck to you.