Any experience with Florida foreclosure?

[Radiance]

State of: Florida

I am about to stop payments on my mortgage. (Maintaining 1 baby, another on the way and two disabled parents) My mortgage lender had already reduced my interest rate for 6 months before my parents became disabled and my new pregnancy)

I estimate I owe at least 60K more than what the house is worth.

My main concerns are:

Liability for deficiency, although I plan to negitiate a short sale/deed in lieu. But if foreclosure I have to pay 60k out of pocket?

Tax liability, when I took this loan I used the cash out to pay out debt not to buy or improve the house. Taxes on 60k are much higher that any moneys I can save up during foreclosure rent-free months.

Stress caused by foreclosure, shame and having to show up at hearings.
I am not elegible fot chapter 7. I make "too much" money.

Inability to rent on a decent place with decent schools after a foreclosure.

What should I do?! I am trying to relax, really, but this is already affecting my health, I am unable to eat and being pregnant that is not good news

[ActYourWage]

If you do not belong to a church, I would fine a good bible based church that might have a care center. They can help you out or at least point you in the right direction.

[Radiance]

I will reach out to my church to see what help is available.

I think I need to renegotiate with my lender for them to change the loan terms again.

If that is not acceptable for them, then I would need them to accept the deed in lieu of foreclosure and accept partial payments until that paperwork is done.

I might be able to rent in a decent place before my credit score gets hit.
As per tax liability, I imagine IRS will accept a payment plan, right?

[Regis]

Hi,

In order to prevent foreclosures, homeowners in Florida can opt to for pre-foreclosures. The Florida HOPE Task Force has developed an action plan to address the foreclosure rate as well as methods to save property ownership for Floridians.