Are you a tenant of owner? If owner hire counsel and defend the foreclosure, or at least to get the money liability waived. If tenant you keep paying rent until the sale goes through and then you get 30 days to vacate. You should hire a lawyer either way to guide you.
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I agree with my colleague. The answer depends on whether or not you are the owner. If you are the owner you should seek legal counsel to assist you with the foreclosure and if you are the tenant, you continue to pay until a foreclosure sale date is set by the Court in at which time you will have at least 30 days notice. Good luck.
Your questions is: Do we walk away or stay until evicted? The answer is you stay (for now) and consult with a good local real estate attorney as soon as possible. Let him or her review your situation, and then advise you properly (i.e., AFTER that review). The net is not the best place for search for legal advice in this matter.
Hope this helps
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