Congress has passed and the President has signed into law, the "Protecting Tenants at Foreclosure Act of 2009", effective May 20, 2009 (Public Law 111-22). This Act provides that with respect to residential rental properties foreclosed on or after May 20, 2009, that any immediate successor in interest to residential property in foreclosure assumes such interest subject to: (1) giving an existing tenant at least 90-day notice to vacate; and (2) specified rights of such tenant to occupy the premises until the end of the lease. The legislation may be viewed at:

http://thomas.loc.gov/home/gpoxmlc111/s896_enr.xml