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

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As many as 300,000 borrowers could become delinquent on their loans when banks initiate foreclosure proceedings after Hurricane Harvey. As many as 300,000 borrowers could become delinquent on their loans when banks initiate foreclosure proceedings after Hurricane Harvey.

Although most mortgage. nearly $746 billion in unpaid principal balances, according to financial data firm Black Knight. In September, the number of loans that were more than 30 days past due rose.

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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.

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 · In the Houston area and outlying areas hit by Hurricane Harvey, there are more than twice as many mortgage properties with nearly four times the unpaid principal balance as.

 · Disaster areas of hurricane harvey: 1.18 million mortgaged properties with $179 billion in unpaid mortgages. Disaster areas of Hurricane Irma: 3.14 million mortgaged properties with $517 billion in unpaid mortgages. Many of these homes survived mostly unscathed. So the mortgage balances of homes that have been severely damaged or destroyed remain uncertain but are significant.

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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.

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