More Mortgage Work Slowdowns Coming For Texas, Louisiana & Florida
HUD, Fannie Mae and Freddie Mac have already issued a 90-day moratorium on foreclosure activity in east Texas. Hurricane Irma is bearing down on Florida and a 90-day moratorium is expected to be issued for south Florida. All of this hurricane activity is slowing down low-fee mortgage inspections and low-fee property preservation tasks.
The overall economy is getting better with more higher paying jobs and better GDP growth. The federal and state Governments are pumping more money into the economy for the rehabilitation of hurricane disaster areas.
“This Mortgage Order Mill in the mid-west
says that their work has slowed. We
must pay a monthly inactivity fee
because of the hurricanes slowing their
work in Texas, Louisiana and Florida. We are in Nebraska. What games will they create next? We already have
to wait 30-60 days to get paid.”