FLORIDA – A deepening foreclosure crisis is threatening thousands of Florida families as insurance premiums prices continue to climb, threatening to push homeowners into delinquency, even as the state’s congressional delegation remains largely silent. According to the most recent data available, Florida ranked the 4th-highest nationally for serious mortgage delinquency rates at 1.43%, while battling the most expensive insurance rates in the country.
“Florida homeowners are facing a perfect storm of rising insurance costs and a congressional delegation that has abandoned them,” said Kyle Herrig, Unlocking America’s Future. “While families lose their homes to foreclosure, their elected representatives in Congress have either voted against consumer protections, remained silent on the crisis, or actively contributed to the failures that created this disaster.”
Escrow Shock Driving Foreclosures
The crisis isn’t primarily about employment or income stress—it’s about the crushing weight of non-mortgage housing costs that have exploded beyond homeowners’ ability to pay. Non-mortgage housing costs like insurance, utilities, and property taxes jumped 30% in 2025, with Florida seeing insurance and tax increases of 70% from 2019 to 2025.
Congressional Delegation’s Failure to Act
Despite this mounting crisis, Florida’s congressional delegation has largely failed to address the insurance and affordability emergency devastating their constituents. Specifically, Florida congressional members:
Rep. Anna Paulina Luna (FL-13) has failed to ensure the floundering National Flood Insurance Program remains viable for her Tampa Bay area constituents, many of whom were threatened with the loss of coverage post-Hurricane Ian and now face foreclosures due to insurance claim payment delays and denials. Rep. Laurel Lee (FL-15), the former Florida Secretary of State who helped enable the insurance crisis, has failed to advance any measures in Congress to address the home insurance and affordability emergency she helped create. Rep. María Elvira Salazar (FL-27) continues ignoring the condo insurance crisis devastating her Miami-area district, sitting on the committee that regulates the insurance industry while holding no hearings on property insurance affordability.
Crisis Expected to Worsen
The situation is expected to deteriorate further through 2026 and into early 2027 as pandemic-era loan modifications mature and condo safety assessments come due. Nationally, the share of metro areas experiencing rising foreclosure rates rose from 8% to 39% year-over-year by September 2025, suggesting that once borrowers fall behind, they’re having increasing difficulty catching up.
While this crisis differs from 2008’s subprime mortgage collapse—lending standards are tighter and most borrowers have equity—Florida stands as a clear outlier, driven by structural cost pressures unique to its climate, insurance market, and state taxes. Without legislative action to address insurance reform and provide relief to struggling homeowners, thousands more Florida families face losing their homes to a crisis their elected congressional representatives have chosen to ignore.
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