$700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas – Stillness in the Storm

Re: $700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas most banks and mortgage companies will grant "forbearance" on payments for at least six months to assess and hire contractors, and another six to twelve months to get repairs done.

Combining the preliminary estimates for both Harvey and Irma suggests that over 3.3 million total mortgaged properties are located in Irma and Harvey-related FEMA Disaster zones, 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.

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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.

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$700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas – Stillness in the Storm Contents Disaster areas september 19 2017 september 19 Email linkedin 0 2017 hurricane season Knight released today Flood insurance weigh $700 billion unpaid mortgage balances in hurricane harvey and irma disaster areas september 19.

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