DO DISASTERS AFFECT MORTGAGES?

By
Services for Real Estate Pros with Midamerica Referral Network

 QUESTIONS THE MEDIA HASN'T DEALT WITH

 

QUESTIONS

 What has happened to the residents who lost their mortgaged homes due to the Katrina Hurricane?  That is - they presumably had no home to return to, but are they still making mortgage payments? 

So they relocated to another town or another state, but are now renting or buying again?  How long can they make two home payments if their place of employment was destroyed also?

 

 What happened to the land their home was on?  Has the mortgage company foreclosed on it?  And for that matter, what has happened to the lenders on all this destroyed property?  Are the banks, finance companies and mortgage companies solvent or have they gone under?

 

All I hear in the media is about rebuilding New Orleans, but no one has explained any of my above questions.  What happens to the empty hospitals, the vacant office high-rises that are empty because the employees and business have had to relocate?aNSWERS

 

 

 

  How can New Orleans be a Phoenix rising from the ashes of financial ruin? 

 

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Rainmaker
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Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Joan

I saw a complete allocation for home owners, tenants, and more.

Sincerely

Tom bRaatz

Jan 19, 2008 06:53 AM #1
Rainmaker
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Joan Snodgrass
Midamerica Referral Network - Kimberling City, MO

Tom:

 

Excuse my ignorance please - elaborate?  Who ends up holding the bag?

Jan 19, 2008 07:19 AM #2
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Rainmaker
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Joan Snodgrass

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