Early-stage mortgage delinquencies jump after hurricane season

Early-stage mortgage delinquencies jump after hurricane season

Dallas FHLB provides funds to assist with Harvey relief efforts woodforest national bank and FHLB Dallas Award $30K to assist small businesses recovery. representatives from Woodforest National Bank, the Federal Home Loan Bank of Dallas (FHLB Dallas) and PeopleFund on Tuesday announced $30,000 in Small Business Recovery grants to assist two Houston, Texas, businesses with hurricane recovery efforts.

 · Jacob Lerma looks at the bare studs inside his home, which was damaged by floodwaters from Hurricane Harvey, Monday, Jan. 22, 2018, in Friendswood, Texas. Five months after Hurricane Harvey damaged thousands of houses in Texas, financial difficulties many homeowners still face as they work to rebuild has created a spike in missed mortgage payments.

 · Jump in late mortgages after Harvey sparks foreclosure fears. During last year’s hurricane season, mortgage financiers such as Fannie Mae and Freddy Mac encouraged lenders to offer homeowners.

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As of the end of September, the overall U.S. mortgage delinquency rate stood at about 5%, a decrease of 0.2% compared with September 2016, according to CoreLogic. However, early-stage delinquencies, defined as 30 to 59 days past due, were up due to the impact of the storms that struck Texas, Florida and Puerto Rico.

Foreclosure Fears Rise in Texas with Jump in Late Mortgages After Harvey.. During last year’s hurricane season, mortgage financiers such as Fannie Mae and Freddy Mac encouraged lenders to.

The rate for early-stage delinquencies, defined as 30-59 days past due, was 2.3 percent in October 2017, down 0.1 percentage points from 2.4 percent in September 2017 and up 0.1 percentage points.

Early-stage mortgage delinquencies increased following active hurricane season. mortgages 60 to 89 days delinquent in October 2017 were up 0.2 percent from 0.7 in September 2017 and October 2016. Serious delinquency, mortgages 90 days or more past due, in October 2017 had a rate of 1.9 percent, unchanged from September 2017 and down 0.4 percent from 2.3 percent in October 2016.

FRIENDSWOOD, Texas (AP) – As Jacob Lerma surveyed the skeletal beams of his suburban Houston home that was flooded during Hurricane Harvey, he kept muttering three words as he wondered if his family would ever be able to move back in: "I don’t know."

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 · FRIENDSWOOD, Texas (AP) – Five months after Hurricane Harvey damaged thousands of houses in Texas, delinquent mortgage payments have.

 · Home AP News Jump in late mortgages after Harvey sparks. reports by real estate and financial firms show the storm’s destruction caused a significant increase in mortgage delinquencies, prompting fears by nonprofit and legal aid groups about a possible wave of foreclosures in the coming months.. During last year’s hurricane season.

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