Aim considering Foreclosure in Fl can my other es ts be at risk, other home, bank acc. ect ect. ?

At this time this Florida is our second home. We do also own in upstate NY. This property is worth less than what our mortage balance is. The HOA also keeps rising because so many others have just walked away. We are concerened that walking away may justifiy the lender to come after are other ests. Does anyone have a similar outcome to this.? Also has anyone come across there HOA being taken over by the State of Florida because of those unable support the payments. What are the pro's or Con's to that?