$700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas – Stillness in the Storm

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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.

To “Help” residents repair homes After Irma, Gov’t Gave Out Code Violations for Damaged Property; Dramatic Footage Of Mexico Earthquake Shows Buildings Collapsing Into Rubble; $700 Billion Unpaid Mortgage Balances In Hurricane Harvey And Irma Disaster Areas; North Korea's Nuclear Tests Could Trigger “Supervolcano” Eruption

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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 loans and 160,000 could become seriously delinquent, or more than 90 days past due.

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$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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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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