Buying a Home During Hurricane Season? Here's What Happens to Your Mortgage Before Closing
Buying a Home During Hurricane Season? Here's What Happens to Your Mortgage Before Closing A homebuyer's guide to hurricanes, FEMA declarations, insurance restrictions, appraisals, and closing delays. By Nate Carver | ProLending Mortgage Buying a home is exciting. But if you're purchasing property in Florida, Texas, Alabama, or another hurricane-prone state, Mother Nature can sometimes complicate your closing plans. Imagine you've found your dream home. You've negotiated the purchase price, completed your home inspection, received your appraisal, and scheduled your closing. Then a hurricane develops in the Gulf of Mexico. Suddenly, you're wondering whether you'll still be able to buy the house. The good news? A hurricane doesn't automatically cancel your mortgage or purchase contract. However, there are several important things you should know. 1. Can You Close on a Home When a Hurricane Is Approaching? Possibly. Mortgage lenders do not automatically ca...