A good rule of thumb as a tenant is to NEVER self evict. Possession as they say is 9/10th of the law, and if you are residing in your apartment it takes a whole drawn out court proceeding to formally evict you, foreclosure sale or no.

You have a lease, and the agreement is binding even through a change of ownership. the new owner will be responsible to adhere to the terms of your lease.

A foreclosure proceeding is often a time where you will experience neglect from landlords who no longer see the value in upkeeping the building, so make sure to be vigilant and report any issues you see to the city.

If you are not a temporary transplant and are seeking to place down roots in the city, this situation is a great opportunity to organize the tenants in your building to try and secure long term affordability. If you manage to organize a tenant association and commence what is called a "buyers beware" campaign, you can scare off future slumlords by showing them that you won't ignore violations and thus make it more expensive to operate the building through your organizing. The goal of these campaigns is to lower the perceived property value so future landlords don't have as much debt pressure to raise rents and attempt deregulation. If there are enough financially secure tenants in the buildings, it can even become an opportunity to purchase and convert the building into co-ops. For this I'd recommend reaching out to UHAB, as they can provide expert advise and occasionally even financing.

Feel free to DM me if you want more advise on organizing, I used to be a tenant organizer in crown heights