$700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas

Even though Hurricane Harvey didn’t hit the Houston area until very late in August, its effects are already being felt on mortgage. The 48 disaster areas affected by Irma include over 90 percent of.

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Total unpaid mortgage balances in hurricane harvey-related fema disaster areas: $179 billion Total unpaid mortgage balances in Hurricane Katrina-related FEMA disaster areas: $46 billion This will.

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 damage could impact as much as a $696 billion in notional mortgage values, which banks could be on the hook for if current occupiers decide to simply.

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.

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.

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,

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Forbearance plans will help as well, though interest on the mortgage will. properties in Harvey-related disaster areas, more than twice as many as were hit by Hurricane Katrina, with nearly four.

 · Irma: More Than Half of Claims Unpaid, Delays Called Shameful. Four months after Irma formed, fewer than half its nearly 866,000 claims in Florida worth an estimated $6.6 billion.

Harvey-related disaster areas contain over twice as many mortgaged properties as those connected to Hurricane Katrina in 2005, carrying nearly four times the unpaid principal balance post-katrina mortgage delinquencies in Louisiana and Mississippi FEMA-designated disaster areas soared 25 percentage points, peaking at over 34 percent

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