When regularly and then permanently flooded in sea level rise vulnerable areas, homeowners will not want to make a choice between paying their existing mortgage obligations or, alternatively, defaulting and trying to qualify for a new place to live. Bad credit and a judgment against the borrowers would result from a default on the original mortgage commitments, making it almost impossible for the homeowners to qualify for a new loan.
To confront this scenario, society needs solutions for the near future. In this podcast, we explore one such opportunity for creative finance which is also environmentally smart.
Join sea level rise commentator Mitch Chester for a brief examination of this key issue.
For more information, please visit www.SLRAmerica.org and www.SLRSouthFlorida.com.