Fallout From Hurricanes Drives HELOCs and Equity Loans Higher


Posted To: MND NewsWire

As more time elapses since the three hurricanes that impacted parts of the U.S. in late summer to mid fall, additional damage to the mortgage market is becoming apparent . The focus of Black Knight’s Mortgage Monitor for December, as well as its recap of mortgage performance in 2017, is skewed by those weather events. The performance of mortgages overall continued to improve in 2017. Mortgage delinquencies in non-hurricane affected parts of the country, areas outside of the Texas Gulf Coast, Florida and the eastern portion of Georgia, were down 11 percent from long-term norms. But factor in those areas hit by Hurricanes Harvey and Irma and the 164,000 additional delinquencies pushes the rate to a 23-month high. Early stage delinquencies attributed to the hurricane have actually begun to decline…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Show Buttons
Hide Buttons