In other words, Florida mortgage loans on real estate are non-recourse debt (i.e., the lender cannot look to the property of the borrower for repayment). Check also Exculpatory Clause.
Can you at some future date buy a home for cash. Perhaps, but you may have that debt looming over you for many years to come. What if the bank decided to grab your asset to settle the debt. I suppose anything is possible in todays world but if what you say here in understanded correctly...you will lose your home and you will become a renter for several years to come.
Anyone can do or try anything. One would presume that you wish to be legal in your endeavors. Talk to your bank. Consider a deed in lieu. Ask for a release of your debt due to hardships and communicate and try and find an attorney you trust to advise you. If you need a rental I can forward you to an great leasing agent. Just contact me here.
If you have to or need to sell your house, ask the bank if you can cpomplete a short sale, it is better than a foreclosure. If you are going to purchase cash, then make sure it is in a trust or lllc otherwise the bank can attach it for any shortfall in a short sale or foreclosure.
If you are going to sell it through a short sale, make sure you get a listing agent who is well experienced in short sales and can negotiate on your behalf.
good luck with working things out
Please take a look at my blog
TIPS ON GETTING YOUR SHORT SALE APPROVED
Where it becomes trickey is your question about the lien on the new property. That I would seek legal advice on.
If you are interested in selling your home I would be happy to discuss options with you further.