You may have a number of options. We have quite a few clients with similar situations to the facts you describe which are, these days, unfortunately, numerous in Florida. While it takes knowledgable analysis of the particular facts of your situation, you may have leverage and possible alternatives that you have no idea exist.
On our web site, www.golantlaw.com, we discuss the situation in more detail, so please takea look. Due to the extent of this crisis, we are taking cases for people throughout Florida.
When you got the loan that is currently the subject of the foreclosure, did you and your husband borrow the money together? If his name is on the loan as a borrower or a guarantor, then his credit is not just at risk; it is probably already damaged due to the late payments on the loan. He should check his credit report immediately to see if the late payments appear on his record.
If your husband is on the loan, there is also a possibility that the lender could pursue what is known as a "deficiency judgment" against the two of you, putting his other assets at risk. Although it is not currently common, the lender may pursue a deficiency judgment after a foreclosure sale if the home sells for less than the amount owed; the "deficiency judgment" is a court judgment stating that the former homeowner has to repay the difference.
If you'd like to know more about the Florida foreclosure process, check out this free 30-page ebook on Florida foreclosures: