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Even as the damage from Hurricanes Harvey and Irma is still being tallied, a preliminary assessment released last week by Black Knight Financial Services estimated that as many as 300,000 borrowers in the vicinity of Houston could become delinquent on their loans and 160,000 could become seriously delinquent, or more than 90 days past due.
$700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas According to a preliminary analysis by Black Knight released today, Florida FEMA-designated disaster areas related to Hurricane Irma include a whopping 3.1 million mortgaged properties.
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.
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
According to a preliminary analysis by Black Knight released today, Florida FEMA-designated disaster areas related to Hurricane Irma include a whopping 3.1 million mortgaged properties..Combining the preliminary estimates for both Harvey and Irma suggests.$696 billion in notional mortgage values,
BlogSpot ReFi Week ending 8/13 “Despite the less positive outlook, both purchase and refinance applications surged, driven mainly by these lower rates.” The 30-year fixed-rate mortgage averaged 3.82 percent on Thursday with an.Blogspot has become one of the top destinations on the internet to start a blog.There are several reasons for this. The first being that it’s a free blogging alternative, and that it’s also owned by Google.
$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.
Disaster areas of Hurricane Harvey: 1.18 million mortgaged properties with $179 billion in unpaid mortgages. Disaster areas of Hurricane Irma: 3.14 million mortgaged properties with $517 billion in unpaid mortgages. Many of these homes survived mostly unscathed. So the mortgage balances of homes that have been severely damaged or destroyed.
Combining the preliminary estimates for both Harvey and Irma suggests that over 3.3 million total mortgaged properties are located in Irma andzones, while the dollar amount of total unpaid mortgage balances in these two zones is massive: between Irma’s $517 billion and Harvey’s $179 billion, the total potential.