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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.
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Quantifying the damage, Black Knight calculates that Irma-related disaster areas contain nearly three times as many mortgaged properties as those connected to Hurricane Harvey, and nearly seven times as many as those connected to Hurricane Katrina in 2005.In dollar terms, this means that there is some $517 billion in unpaid principal balances in Irma-related disaster areas, nearly three times.
REALIST NEWS – $700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas
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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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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.
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.
$700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas. Hurricane Irma:. WHAT Came Out Of Hurricane Harvey? 8/28/17 – Duration:.
This from Black Knight Financial Services (NYSE: BKFS) , which compared mortgaged properties in the FEMA-designated disaster areas in Houston to those in Hurricane. many as Harvey. Total unpaid.