The "Protecting Tenants at Foreclosure Act" became effective May 20, 2009 which requires the buyer of a foreclosure sale (which most often is the foreclosing lender) to give a "bona fide tenant" at least 90 days notice to vacate the premises.  In regards to a "bona fide tenant" it is referring to a tenant that has a written lease or a month to month lease and must be someone who is not the original homeowner and pays a fair market value rent. 

A renter with a written bona fide lease must be allowed to live there for the remaining term of the lease unless the property is sold to buyers that will use it as their primary residence at which point the tenant  has been given 90 day notice to move out.  So the date of sale becomes the termination date of the rental lease.  At least valid renters in this situation will have at least 90 days to locate another home to rent. 
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