Q: My note was never sold before the original company went under... what do i do? can i sell it? I'm still on the tittle.
Full disclaimer: in 2009 I filed for chapter 7 and this property was supposed to be discharged. fast forward to now and I just found out that I'm still on the tittle and it was never sold or foreclosed. I've received an offer to by the property and I'm not sure what to do.
A: In theory you can sell it, but most likely the mortgage is still a lien against the property. I suggest that you consult with a real estate attorney here in Florida to look at your title history and then give you advice on what you can do.
A: The company going under means little. Another company easily may have purchased their assets and/or your loan. Discharged debt does not mean the lien on the property goes away. You can sell the property with a realtor, it will all depend if you owe more or less than the loan balance; as well as figuring out who owns your loan. You will need an attorney to review the facts and your loan etc though before doing anything.
A: I gather that you have a poor understanding of the process of a mortgage lien. You need to consult with an attorney near you that will encompass solutions for you to be able, with the lender's permission, sell the home. Typically this is called a "short sale" if the lender has to accept an amount less than the total of the unpaid mortgage and note. It appears from your statement / question, that this is the route you need to take. Find an attorney that does these and you will be on the right path.
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