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Thousands of Hurricane Harvey Flood Victims Unable to Pay Mortgages, May Cause Foreclosure Crisis

January 31st, 2018 Hurricane Harvey
Harvey Flood Foreclosures

In the wake of Hurricane Harvey, many homeowners are struggling to repair their homes and provide for their families. The extreme financial burdens of the past few months leave many unable to pay their mortgages. According to an article by CBN News, the widespread inability of Houston flood victims to pay their mortgages may soon lead to an extensive foreclosure crisis.

The majority of the homeowners who are delinquent on paying their mortgages have either been denied a flood insurance claim, are still waiting for it to be processed or received too little to cover repairs.

This is why approximately 44% of Texans affected by Hurricane Harvey were 90-days delinquent in their mortgage payments in December. The aftermath of Hurricane Harvey is truly leaving its mark.

The positive news is that some mortgage companies are offering a temporary break for those affected through offering a yearly suspension of payments or reduced payments. But not all Houston residents are being offered this relief.

The Texas Land Commissioner is also working to help give homeowners financial assistance during this extremely difficult time, but it’s not certain as to how many homeowners will benefit.

Overall, one of the most challenging obstacles that flood victims face is waiting. Waiting for their Texas flood insurance claims to be processed. Waiting for assistance.

This waiting game is prolonging the suffering of those affected. At first, finding ways to repair their homes seemed to be a daunting task. Now, many are trying to hold onto their beloved homes, or risk them being sold by the government.

At Long & Long Property Loss Attorneys, we understand your struggle and your financial burden during this difficult time. You don’t have to go it alone.

Do you have flood and wind damage insurance? Was your flood and wind damage insurance claim denied?

Are you still waiting for your Texas flood insurance claim to be processed? Do you feel that your Hurricane Harvey flood insurance claim was underpaid?

If you answered yes to any of these questions, call Long & Long Property Loss attorneys today at 713-863-0333 for a free claim evaluation. Our local, highly experienced flood insurance attorneys will fight to recover the maximum amount for your flood insurance claim.

Let our experienced Texas property damage attorneys fight to seek the maximum recovery you may deserve for your flood and wind damage claim.

Our dedicated and experienced team can handle your entire flood and wind insurance claim for you. Contact the Harvey Flood Property Loss Attorneys at Long & Long at 713-863-0333.

We have handled over 7,500 property loss claims successfully securing the insurance benefits our clients deserved.

Our attorneys are dedicated to fighting FEMA and private insurance companies to win the maximum insurance settlement. We have been up against their adjusters, lawyers and their underpayment tactics time and time again. Don’t be a victim twice.

Our experienced Harvey Flood Insurance Claims Attorneys will work to secure the recovery you deserve for your residential, business or commercial property loss claim.

Call Long & Long’s Property Loss Attorneys today at 713-863-0333. One of our Houston flood and wind insurance lawyers is standing by to help.

 

 

 

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