"Mortgage lenders face increasing risks from sea-level rise"

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Mortgage lenders face increasing risks from sea-level rise. Read the full article by Jan Ellen Spiegel @Yale Climate Connections. Carbon offsetting is vital to your cleaner, greener business and lifestyle. Make your website and lifestyle carbon-neutral first, by a self-service carbon offsetting at https://en.zeroco2.cf/blog/ Tags: Self-service carbon offset, Carbon-neutral website, Carbon-neutral lifestyle, Carbon Footprint Calculator

"As flooding grows more frequent, some smaller banks are shunning 30-year mortgages.

It was an eye-popping headline in the New York Times earlier this summer – “Rising Seas Threaten an American Institution: The 30-Year Mortgage.” The somewhat less-explosive point was that in an effort to avoid risks of climate change-caused defaults on mortgages – especially involving homes facing sea-level rise and increased flooding – banks have been selling off those mortgages.

And they’ve been selling them off to you and me.

More specifically, they’ve been selling them to Fannie Mae and Freddie Mac, the two big government-created private lenders that handle more than half the U.S. mortgage market. But it’s taxpayers who pick up the tab for Fannie and Freddie’s debts – like defaults if sea-level rise makes a home unlivable and the owner stops paying the mortgage." ～Jan Ellen Spiegel @Yale Climate Connections
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