Hurricane Harvey, a record-breaking category 4 storm, brought disaster when it hit Texas in August 2017. By the time the hurricane ended, more than 200,000 Texas homes were damaged. Just as many homeowners were questioning how they were going to pay on their mortgage.
Here are a few of the potential outcomes: a hurricane that bankrupts the state of Florida, a housing foreclosure crisis caused by flooding in Texas, an economic meltdown. a major home mortgage loan.
As fires, floods, and storms dominate the headlines, our attention now turns to Irma. With wind speeds of 185mph, it is expected to pass near or just north of the coast of the Dominican Republic.
The mortgage bankers and brokers who survived were more cautious, but acknowledge they too were swept up in the housing hysteria to some extent. "Everybody drank the Kool-Aid" said David Zugheri,
The bursting of the US housing bubble led to the subprime mortgage crisis in 2007. "Subprime" describes "a risky or less-than-ideal loan, mortgage. industries into disarray after the clock struck.
Hurricanes Harvey and Irma have been impacting employment data with sharp increases in unemployment claims and delays in reporting from Texas and Florida. In September, the ADP reported the addition of 135,000 jobs, down from August’s addition of 237,000 jobs.
Mortgage lending grows riskier in Texas, Florida after hurricanes Business plan challenge deadline is March 26. Arod is one of this year’s judges Your customizable and curated collection of the best in trusted news plus coverage of sports, entertainment, money, weather, travel, health and lifestyle, combined with Outlook/Hotmail, Facebook.
Construction and jobs data continues to be distorted due to recovery from Hurricanes Harvey and Irma. As the Southeast, particularly Florida and Texas, continue to clean up and rebuild, construction spending is expected to increase and jobs-related reports are likely to normalize. Sources: Bloomberg, MarketWatch, Mortgage News Daily, Reuters
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Mortgage lending grows riskier in Texas, Florida after hurricanes.. Risk for mortgage originations in Texas and Florida jumped in September, reversing its downward trend due to the recent.
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