If you have successfully worked out a deal with the Bank in the Settlement Conference, the foreclosure proceeding will be discontinued. The Bank should file a "Stipulation of Discontinuance", which is a document that tells the Court that the Bank is no longer pursuing a foreclosure. In addition, the Bank will file a "Cancellation of the Lis Pendens", which ensures that the land records with the local County Clerk accurately reflect that the foreclosure proceeding is over.
If you are unable to work out a deal with the Bank at the Settlement Conference, the Bank will ask for an "Order of Reference", which is the next step in the foreclosure proceeding. The Bank will file either a "Summary Judgement Motion"(if you filed an Answer) or a "Default Motion"(if you did not file an Answer). Both of these motions allow the foreclosure to go forward against you, and a Referee will be appointed to compute the amount due and oweing under the note and mortgage. Once the Referee is done computiing the amount owed, the Bank will move for a Judgment of Foreclosure and Sale, which allows them to sell the property.
Once a Judgment of Foreclosure and Sale has been signed, a sale date is set and the property is sold at public auction. After the auction to sell the property, you will not have too much time to find a new place to live. If you do not move out on your own, you will be served with eviction papers.