My understanding is that there is something in the works to prevent this from happening again, but from my sources, it has not happened yet.
Perhaps someone else could add to this.
There are certain protections for renters who have a signed lease. If your lease is "market" rate, (not discounted below the normal rents paid for your type of rental) then you may be able to stay in your rental house until your lease expires, even if the bank actualy forecloses and takes ownership.
You need to contact the attorney's office that served you with the notice of the Lis Pendens or foreclosure immediately. Send a certified letter. Also you may want to send a certified letter to the lender listed on the foreclosure notice you were served with. You may also want to hire an attorney. That can get expensive so you may be able to send an "answer" to the courthouse to explain that you are renting. The lender may actually require you to send your monthly lease payments directly to them if the owner is delinquent on making their payments.
One other thing to consider is if the house is part of a condo or Homeowners association is the association can also foreclose and take ownership.
Either way, you need to continue paying your rent so you don't get an "eviction" on your record. I've seen it happen, too, where a landlord gets upset when the tenant doesn't pay rent and they file an eviction on the tenant. Not sure if you can deposit your rents with the clerk of the court until it is determined who is entitled to your rent money, though.
Good luck and start looking for another place to live. Hopefully you're now in a position to buy.
If not, attend Dave Ramsey's Financial Peace University at a local church. You don't have to be a bible thumper to attend. It will help you get get your priorities in order so you can eventually be a homeowner.
Call your landlord and see if they will share those details with you. You should start looking for another home at any rate.
Best of Luck to you.
Lisa Jones,GRI SFR