As the property was foreclosed, the original lease agreement that you had no longer applies.
You say that the bank wants to enter a new lease. This presents you with the opportunity to negotiate the repairs that are needed on the property. You have the option to not enter into a new lease if they will not agree to repairs, but you will then have to move,
I would be happy to assist you in locating a new rental property. Please call me to schedule a meeintg.
Keller Williams Dallas City Center