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Shel,
Yes, Fla homeowners insurance is excessive. That's why the new governor has been cracking down on Allstate and other insurance companies. I can tell you that I've been anxiously hoping to start owning a house but in the past years, it's not such a hot deal. Money's so tight for nearly everyone, including us. We've been putting most money into our business where we could put into a decent mortgage but no way can we do both.
Deaf Mortgage's right---bankruptcy stays on record for ten years. When you file a bankruptcy, your credit score plummets to 300-400. Lenders don't like it but if you do good with bills after few years, they are happy to take a look.
And let's not forget the property taxes. It's obscene! In Florida, something changed in a way that when homeowners sell their homes to move up to a bigger house, or a nicer house (whatever), they get the tax sticker shock when the property taxes come out. Taxes is the reason why my family left Long Island, NY and I see the same thing happening in Florida. It's probably a good thing I am not in Miami!!!
Renting isn't that bad these days. I got lucky with this house. I had planned to leave after five months. No rent increases in the past 3 and half years.
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 Life is like a farm. You have to get up early and do the chores
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