Roughly 48,390 residential properties are at high or extreme risk of wildfire damage from the Camp and Woolsey fires in Northern and Southern California, CoreLogic estimates.
These 48,000+ homes have a combined total reconstruction cost value (RCV) of approximately $18 billion, the firm estimates.
The Camp fire, in the north, threatens about 31,394 homes with a total RCV of about $7.3 billion.
The Woolsey fire, in the south, threatens about 16,996 homes with an RCV of about $11 billion.
The estimates are as of Nov. 11.
As has been reported numerous times in recent months here on MortgageOrb, natural disasters including hurricanes and wildfires can have an impact on mortgage delinquency rates. Certainly, the wildfires that struck California last fall had their impact.
Considering the size and scope of these current fires, and the areas being impacted, it seems likely that there will be significant rise in mortgage delinquency rates for the affected areas in the months to come.
