Its never a good idea to stop paying your rent without a good reason. And a property that could be "about to face foreclosure" isn't a good enough reason. Check the tax records and see what you can find out. Until the property has a foreclosure sale, the property is still owned by your current landlord.
This is probably a stressful time. But, you do have rights. If you have a valid lease, the bank will more than likely honor your lease. If you're a month to month tenant, you'll have the option of accepting a financial settlement from the bank or you'll have 90 days to vacate.
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Best of luck to you! Keep us posted.