How do you pay for a house that no longer exists?

Er, helpful advice for New Orleans residents from Avi Zenilman. The bottom line is

Those who can’t get insurance coverage or federal help in time to pay their mortgage are personally liable for their homes and are possibly vulnerable to foreclosure. Some banks have already begun to assuage these fears by granting borrowers at least a 90-day extension for their payments.

Wow! 90 whole days! Who says bankers have no hearts?