Only $1.3 billion of that total can be used for major disasters like Hurricane Harvey, while the additional $1.5 billion is earmarked for things like fire mitigation grants.
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$700 billion unpaid mortgage balances in hurricane harvey and irma disaster areas september 19, 2017 september 19, 2017 The Scoop News – Francesco Abbruzzino Facebook 0 twitter 0 Email LinkedIn 0 Messenger
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Insuring hurricanes: Perspectives, gaps, and opportunities after 2017. insured disaster ever at $40 billion. 1 In 2005, Hurricane Katrina far outpaced Andrew, costing about $160 billion. Stay current on your favorite topics. Subscribe. Two weeks after Harvey, Hurricane Irma swept through several Caribbean islands as a Category 5 storm.
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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.
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These properties account for $179 billion in unpaid principal balance (UPB), nearly one third of the total in Texas, and 2 percent of the entire country’s first lien market.
In our analysis, we focus our attention on auto loans and home mortgages.. We find that following Harvey, residents in flooded areas, on the whole, had temporary. How a natural disaster like Harvey affects consumer credit balances depends on. about $3.2 billion in low-interest loans for those affected by the hurricane.
Fannie Mae FNMA Stock Message Board: [color=red][b]$700 Billion Unpaid Mortgage Balances In Hurricane Harvey
$700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas 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.
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.