This is a fairly common question. As long as the owner retains ownership, you are responsible for honoring any lease/rental agreement. Ownership will be maintained until the property is foreclosed on and the bank takes ownership of the property.
To not continue with your agreed upon responsibility may be opening yourself up to litigation. Maintainging you rental agreement would be advisable.
Only deal with knowledgeable/reputable professionals to protect your interests.
Best of luck,
Rob Hughes-Long and Foster-RE INC.