Will our mortgage company give the people who purchased our property the title, if the mortgage company is not the one who foreclosed on the property?
It is difficult to understand your question. If someone purchased your property at a judicial sale by a junior lienholder (HOA, 2nd mortgage, etc.), that purchaser bought almost nothing - all they own is the very temporary right to use it, or to rent, it, until the first mortgage creditor forecloses, and when it does, the purchaser at that future foreclosure sale will own the property. Florida has a very strange process for foreclosure of junior liens - they ignore the primary mortgage (the elephant in the room), and get people to bid on virtually nothing. Then those bidders get wiped out when the primary mortgage creditor does its own foreclosure. I am assuming that is the situation you are asking about. If not, if you yourself are selling the property to a purchaser, that is a very different scenario. In that case, the mortgage company would not own the property and would have no title to give, unless you deeded your property to it.
Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.
NO. After the HOA auction there will be a new title holder/owner so you will need to vacate. However, you still will owe the lender 100% of the amounts of the mortgage. The lender will then move to foreclose and take the new owner out of there, but you are the one that signed the note. So you will be the defendant in the lawsuit, that is sued in foreclosure. Your best bet is to negotiate with the HOA, short sale the property working with the lender to forgive the debt, and they will most likely stall the HOA and pay them in full. So you walk away owing nothing to either the HOA or the lender.
You need to consult with an attorney right away to minimize the consequences of the foreclosure as best you can. If you are interested in keeping the property you could probably do so with a bankruptcy. Seek legal advice right away -- in person, not on a website.
This communication is not intended to create an attorney/client relationship. It is always recommended you consult an attorney in person to discuss your case.
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline