Yes...fill that fridge with as much ice as possible. Very important for those mixed drinks you'll be having during your hurricane party. And for cooling off when the power goes out. Right on Cubano......
Question......lets say the cane comes in and wipes out a few hundred houses, some have insurance others do not, fema comes in......people cant make mortgage payments on houses they don't have.....how does this effect fannie? Or does it at all?
I think in most states you have to have insurance in order to have a mortgage. I know in Florida and NJ you do. But if you own your trailer or home outright it is up to you.
So basically, these people are covered which I figured, but is fannie left holding the bag on the payments they will no longer be receiving, or is there a stipulation that allows the fed to cover them? I am trying to figure out how much of an impact it might have on FNM if any. Tia
I lived in NC for 25 years and experienced several bad hurricanes. One took my car and dropped two trees on it and left it underwater. Another, killed my beachhouse. All the advice given is the best, esp. beer, ice and water. Short the insurers!! If you have the balls, grab a jetski and go to the beach, I got some sick air on my Yamaha just before hurricane Floyd! It looks like it's getting weaker as it travels over cooler waters in the North. Most likely, when it hits landfall, it will die pretty quickly, but predicting the weather is about as easy at predicting the market.
The mortgage company is paid first by the insurance company if there is a loss. The person who owns the mortgage has to make payments regardless of the situation or they lose the house and any equity they may have. IMHO there is no impact on mortgage lenders really except for a few more foreclosures. The bank always wins.
If you short the insurers, you've got to assume the hurricane will be worst than what the market is discounting. Like Hurricane Hugo or something.