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

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The 48 disaster areas affected by Irma include over 90 percent of Florida’s mortgaged properties and $526 billion in UPB; 5 percent of the U.S. Market. Nearly three times the number of borrowers.

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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 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.

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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.

Re: $700 Billion Unpaid Mortgage Balances In Hurricane Harvey And irma disaster areas and of course the mortgage companies and banks are totally generous by stopping them, until they have another house then.

Find SBA disaster loans and business counseling for people and businesses. and Disaster loans for businesses adversely affected by Hurricane Harvey.

 · 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.

Black Knight Preliminary Assessment Shows Over 3.1 million mortgaged properties in Hurricane Irma Disaster Areas Representing $517 Billion in Unpaid Principal Balances PRESS RELEASE GlobeNewswire.

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.