If this is the only claim in that period you probably will not have a problem as they will consider this a CAT (catastrophic) loss.

That is so in a catastrophic situation I don't lose everything. 

I understand there are typically clauses providing coverage to buyers during catastrophic events (forces of nature), but was interested in hearing how it has or would play out.We're currently set to close on a sale on September 19th in Niceville and pick up another property on the 11th of October in Pensacola; with Irma and José on their way, we're anxious about how it will impact the deals (either positively or negatively).

However, Black Knight Data & Analytics Executive Vice President Ben Graboske noted the federal government has some buffers in place to block a potential mortgage catastrophe.

All of which does kind of bear out the observation to not listen to the weather channel or think that a little catastrophe will put a damper on things.  

All I can say is make sure you have plenty of cash reserves just in case your tenants do not pay or there is a catastrophic repair that will be needed.

FORECLOSURE: A seven year waiting period is required, and is measured from the completion date of the foreclosure.A three year waiting period is permitted if extenuating circumstances [EC: non recurring events that are beyond control that result in a sudden, significant and prolonged reduction in income or a catastrophic increase in financial obligations]  can be documented and the lesser LTV of 90% or the standard product guidelines.

I do feel that stress testing a balance sheet is the only way to really look at systemic and catastrophic risk, especially in situations where effects of risk to repay is not independent. 

Imagine if you had a catastrophIc fire caused by the tenant in the basement and the insurance company said tough luck buddy you now owe on a 100 grand ash heap

I'm very price sensitive and if it has something catastrophic.