Legal Question in Real Estate Law in Florida

Options include negotiating with the bank for a mortgage modification or short sale. One word of caution. If your property is governed by a mandatory community association and you fail to pay assessments, the association can usually foreclose more quickly than an institutional lender.

Mortgage contracts usually have provisions requiring the owner to maintain insurance, and authorizing the mortgagee to force-place insurance and protect its collateral. The mortgagee (lender) may force-place insurance, if obtainable at any price. A breach of contract may allow the lender to foreclose.