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

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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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.

$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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$700 BILLION UNPAID MORTGAGE BALANCES IN HURRICANE HARVEY AND IRMA DISASTER AREAS SEPTEMBER 18, 2017 | ZERO HEDGE | WWW.ZEROHEDGE.COM | 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.

There are 2.08 million 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 are $370 billion. If the correlation worked, there could have been half a million mortgage delinquencies in Florida, but, again, the storms were different.

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