Miami, FL – April 2025
Florida is seeing a rise in new foreclosure filings, and industry experts say rising property insurance costs are playing a major role. Many homeowners are falling behind on escrow or dropping coverage entirely — triggering default clauses.
“We’re not just seeing mortgage issues — we’re seeing people pushed out because of $5,000 annual insurance hikes,” said a real estate attorney.
The hardest-hit areas include coastal counties and older developments with aging roofs.
