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Mortgage Payments Stabilize in Areas Affected by Hurricane Harvey and Irma

February 26, 2018

Months after devastation hit areas in the form of hurricane Harvey and Irma, mortgage payments are finally getting back to normal. A new report claims that delinquencies tied to these hurricanes are beginning to drop, bringing payments back to a stabilized number.

 

"Serious delinquencies of 90 or more days were down by 19,000 compared to the previous month at 707,000, according to Black Knight's First Look report," reported National Mortgage News.

 

"Payments that were 90 or more days late and related to Hurricanes Harvey and Irma fell to 132,000 in January from 142,000 in December. Delinquencies of 90 days or more are still up by 43,000 from a year ago."

 

The report also showed that there were more than 2.5 million in loans that were past due by 30 days or more in January 2017. The number would go on to rise even higher by December of 2017 however, that number is now down more than 200,000 as of January 2018. 

 

To learn more about mortgage payments affected by hurricane Harvey and Irma, click on the image above.

 

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