It is good that you went to the Clerk. These are public records and you can monitor the progression of the case. If it is true and a modification occurs or something else, such as reinstatement, takes place, the court records would reflect this. Should there be an order of dismissal, that would confirm that the owner can, in fact, keep the house.
As to your rights, there is a federal law detailing a 90 day notice upon securing ownership via sheriff's sale. This would put you in touch with the new owner and, hopefully, allow you to reach an agreement regarding retaining possession or vacating on a date certain.
There may also be a question as to who is to receive the rents. Generally, a mortgage contains an assignment of rents. This would mean that, pursuant to notice, the lender can demand payment of rental monies from you. One would think that a copy of such notice would be provided to you, but you can also look to contact the attorneys for the lender to inquire if such an assignment has occurred.
Since all cases travel at different speeds towards resolution and raise their own unique issues, it would be best to consult with an attorney in your county. An attorney experienced in foreclosure can inform you as to local procedures for not only court, but eviction. This information can also help you better assess your situation.
Answered on May 18th, 2012 at 1:05 PM