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$700B unpaid mortgage balances in Harvey and Irma disaster areas. Putting the Harvey damange in context, after Hurricane Katrina mortgage delinquencies in Louisiana and Mississippi disaster areas spiked by 25%. The same could happen in Houston, as borrowers without flood insurance weigh their options and decide to walk away from the property.
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In total, 4.3 million properties with nearly $700 billion in outstanding mortgage balances are located in FEMA-designated disaster areas in Texas and Florida, according to a preliminary estimate by Black Knight Financial Services: Disaster areas of Hurricane Harvey: 1.18 million mortgaged properties with $179 billion in unpaid mortgages.
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In comparison, Harvey-related disaster areas held 1.18 million properties – more than twice as many as with Hurricane Katrina in 2005 – with a combined unpaid principal balance of $179 billion. Irma-related disaster areas now contain nearly seven times as many mortgaged properties as those connected to Katrina, with more than 11 times the.
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mortgaged properties in Irma-related FEMA disaster areas, more than four times that of Katrina and twice as many as Harvey. Total unpaid mortgage balances for Irma areas is $370 billion. (on camera): Borrowers in Florida also have much less home equity than those in Houston because they were hit harder in the housing crash. If the
In dollar terms, this means that there is some $517 billion in unpaid principal balances in Irma-related disaster areas, nearly three times the amount as in those related to Harvey and more than 11 times of those connected to Katrina.
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In comparison, Harvey-related disaster areas held 1.18 million properties – more than twice as many as with Hurricane Katrina in 2005 – with a combined unpaid principal balance of $179 billion. Irma-related disaster areas now contain nearly seven times as many mortgaged properties as those connected to Katrina, with more than 11 times the.
$700B unpaid mortgage balances in Harvey and Irma disaster areas As Thousands Left Homeless from Hurricanes, trump sends million MORE to Israel Do 40,000 Lightning Strikes Over SoCal Point To A Mega Quake On The Horizon?
Filed Under: Uncategorized Tagged With: climate change, geoengineering watch, hurricane, Hurricane Harvey. $700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas. 09/18/2017 By Jeremy E McDonald Leave a Comment
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