Well, howdy there, Internet people, it's Bell again.

So today, we're going to talk about foreclosure data and the one big beautiful bill.

Mortgage lenders might be adding a sixth C to the lineup.

For years, credit had five Cs, character, capacity, capital, conditions, and collateral. They're going to

need to add climate. An analysis from First Street suggests that foreclosures from weather-related

incidents could shoot through the roof. They're looking at it going up 380% over the next 10 years.

As it's typically the case, it will hit low and moderate income households the hardest. So what's happening? I'm going to give you the direct quote,

then translate it. Quote, properties with wildfire or hurricane wind damage following an extreme weather event are 1.46 and 0.41 percentage points less likely to foreclose relative to properties undamaged by the event.

Respectively, because insurance payouts often sent directly to lenders cover repairs and outstanding

balances.

Yet, as insurers raise rates to offset increases in payouts, the cost burden shifts back to

homeowners.

Every 1% point increase in annual homeowners insurance premiums is associated with a 1.05 percentage point rise in foreclosure rates nationwide.

As clear as a tinted window, right? Okay, so a hurricane or fire happens. Insurers pay out to repair damages.

And that actually drops foreclosure rates a bit because the banks get the money directly

from the insurance company most times.

But that money came from somewhere.

And the insurance company wants to make it back.

So they raise insurance premiums.

For every 1% increase in homeowners insurance premiums,

there's a 1.05% increase in foreclosures.

It's important to know that in some states,

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