“The New Orleans area has earned an unwelcome financial distinction during the coronavirus pandemic: more homeowners here are at risk of losing their homes due to unpaid mortgages than in any other major American city.” So begins an article in the New Orleans Advocate today noting over 10% of our citizens are at risk of losing their homes, both rental and mortgages. The article continues to note that certain Zip Codes are more at risk than others and that “With a relatively high concentration of low-income households, the New Orleans area already had one of the nation’s highest mortgage delinquency rates before the pandemic, according to Andy Walden, economist and director of market research at Black Knight, a Jacksonville, Florida, firm that tracks mortgage trends nationwide.”
More New Orleans homeowners risk foreclosure than in any other major U.S. city; here’s why
