Posts Tagged ‘hurricane’

Mortgage Delinquencies Rise After Hurricanes

Posted on December 11, 2017 by Laura Lam

The three major hurricanes that caused devastation during August and September were largely responsible for the third-quarter increase in mortgage delinquencies.  The seasonally adjusted delinquency rate of 4.88% was 64 basis points higher than the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey. The 30-day delinquency rate was responsible for 50 basis points of that increase, said Marina Walsh, the MBA’s vice president of industry analysis.  Compared with one year ago, delinquencies were 36 basis points higher. “Hurricanes Harvey, Irma and Maria caused disruptions and destruction in numerous states,” Walsh said. “Florida, Texas, neighboring states, as well…

Hurricane Aftermath: Over 25% Could Miss Mortgage Payment

Posted on September 13, 2017 by Laura Lam

Over one-quarter of all mortgages in the areas affected by Hurricane Harvey are likely to become delinquent within 4 months because of the storm, according to an analysis from Black Knight.  Approximately 300,000 mortgage borrowers will miss at least one payment on their loan because of the storm, with 160,000 not making 3 or more payments.  Black Knight modeled this estimate based on changes in the delinquency rate in Louisiana and Mississippi following Hurricane Katrina in 2005. Mortgage delinquencies in affected areas in Louisiana and Mississippi peaked at 34%, with the rate of seriously delinquent loans peaking at 16%. But there…

Tips for Riding Out Hurricane Sandy

Posted on October 29, 2012 by Saldutti

For those in the path of Hurricane Sandy, the wind, rain, floods and potential blackouts are on the way.  If you are sheltered in place with adequate food, water, batteries and other supplies, you are likely to be well-prepared for the approaching weather threat. However, there are some simple mistakes that many people make that can potentially put their family’s health in danger. Former head of emergency response and preparedness for the U.S. Centers for Disease Control and Prevention, Dr. Richard Besser, offers three simple tips to keep you, your family, and even your pets, safe. Tip #1 – In an Outage, Approach…