Invalid Lease

We signed a lease and now we are being asked to leave because the houes was foreclosed on two years ago. Should we ask the bank to let us stay and can we sue our landlord?

You have nothing to lose by asking the bank to stay. However, what is the purpose of suing your landlord? If he could not afford to pay for the has, it is not likely you would be able to collect a judgment from him if you were able to obtain one.

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If the bank has asked you to leave, it is because they have taken possession and want you out. If the original landlord is asking you to leave and you are still under a standard lease, not a month to month lease, you need to investigate the terms of your lease to see if he is breaking its terms.