Legal Question in Real Estate Law in Florida

Yes, but you may not like the results. The bank is not under any obligation to take a loss on the mortgage that you asked for. They may, or may not, but it is solely their decision. Also, if you just stop paying, ultimately the bank will seek foreclosure, and in doing so will get a judgment against you for the amount of the debt. While it is not common in foreclosures, the bank has the option of getting a deficiency judgment after the property is sold, and then going after your other assets in order to collect.

Also, if you are presently current on the loan payments, it is highly unlikely that the bank will allow for a short sale.