· 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.
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According to Black Knight’s mortgage monitor report, most borrowers impacted by Hurricane. Irma’s disaster area is nearly twice the national average.” Between the two hurricanes, 4.4 million.
· In comparison, Harvey-related disaster areas held 1.18 million properties – more than twice as many as with Hurricane Katrina in 2005 – with a combined unpaid principal balance of $179 billion. Irma-related disaster areas now contain nearly seven times as many mortgaged properties as those connected to Katrina, with more than 11 times the.
Still, there are 1.18 million mortgaged properties in Harvey-related disaster areas, more than twice as many as were hit by Hurricane Katrina, with nearly four times the unpaid principal balance.
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Who Gets Hit by Mortgage Losses in Harvey and Irma Areas? by Wolf Richter – Wolf Street "We need to ask for a policy change because the burden with these losses is too big." Somebody is going to pay for losses on mortgages of homes that were destroyed by Hurricanes Harvey and Irma.
Floridato Hurricane Irma include over 3.1 million mortgaged properties 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 The $517 billion in unpaid principal balances in Irma -related disaster areas.