Dealing With a Mortgage After a Natural Disaster

Dealing With a Mortgage After a Natural Disaster
A natural disaster may have damaged or destroyed your home, but you still must pay your mortgage. Katherine Welles/Shutterstock
Anne Johnson
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Besides physical and emotional loss, a natural disaster causes financial loss. Ongoing debts must still be paid despite the cost and effort of rebuilding. One of those debts may be a mortgage.

But if your workplace has been destroyed, too, you might not have any income. Even with income, if the house is gone or uninhabitable, you'll have additional living expenses. What happens to your mortgage? Do you still have to make your loan repayments?

You Must Pay Your Mortgage

The natural disaster may have damaged or destroyed your home, but you still must pay your mortgage. So it’s important you contact your mortgage servicer.
Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.