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Do any of you have FEMA flood ins?

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posted on Jul, 18 2015 @ 09:35 AM
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My husband and I were getting ready to purchase a home. Everything has been peachy and smooth until BAM--the bank is requiring FEMA flood ins. Im am having trouble finding coverage. The places we have gotten quotes from have been all over the place from hundreds to thousands of dollars per year. Between the Flood Ins and property taxes the cost is more than the mortgage payment! How is this even possible? Do any of you pay more /month for taxes and ins than for the actual mortgage payment? Im so sad..this house was just perfect for us..plus it was well within our ability to pay..and have enough (so we thought) to save some money...now we are going to be in the hole: I have lived in the community my entire life and this house (area, well the town in general) HAS NEVER FLOODED! there aren't even any lakes/ponds/canals/etc. To me it would take a Noah's ark event type rain to even touch this place. I don't even understand why Fema has a map over the area????????

Just totally sad and disgusted that we have been priced out over stupid insurance that I know 10000% we would never make a claim on.




posted on Jul, 18 2015 @ 09:50 AM
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a reply to: Neopan100
We have flood insurance as a writer to our homeowner's policy. It's not terribly expensive. It was written into the policy along with earthquake insurance when we built the house.

Apparently FEMA or some other branch of government has redrawn the flood plain maps in recent years. A number of property owners in our area were so upset that they took it to the Federal legislators and got some sort of accommodations that looked at reality rather than some pencil-pusher's best guesses. I'll see if I can find some of the articles.

ETA: This is the only story I can find quickly:
www.courier-journal.com...

but I distinctly remember that several Congress members got involved and got a provision to allow homeowners to appeal their case and show that flooding had never affected their property.

Would it be possible to talk to others in the neighborhood and find out how they got coverage?


edit on 18-7-2015 by diggindirt because: addtional info



posted on Jul, 18 2015 @ 10:20 AM
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Strangely enough the house we were going to purchase is the only house on the block that the flood map swings over. No other homes would be required to have it. Even though all of the other homes sit in exactly the same distance from the street and their backyards are exactly the same. This neighborhood is an older neighborhood from the 40s so it's like the song "Little boxes...little boxes...little boxes...made of ticky-tacky and they all look just the same." Some how FEMA thinks that a flood of magical and magnificent magnitude is going to strike this particular home and not thy neighboors(big eyeroll)
a reply to: diggindirt



posted on Jul, 18 2015 @ 10:33 AM
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a reply to: Neopan100
I would begin by talking to an insurance agent not associated with FEMA. The agents will likely be informed on the process of determining flood plain rates and the appeal process.
I'm sorry I can't find the stories about the local property owners who appealed and won but I do remember that they were included in the floodplain simply because their property bordered Kentucky or Barkley Lakes. The ones who got the changes made were located on high bluffs well above the lake.



posted on Jul, 18 2015 @ 10:34 AM
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Do you have a lawyer...?

I only ask, because aside from the chuckle your second post (above) gave me...
It also sounds like a preposterous scam to rob you.

Even a lawyer friend would do, someone who could advise you to the nature of this insurance.



posted on Jul, 18 2015 @ 10:44 AM
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FEMA flood insurance is a constant pain in the butt. Part of our property lies in the new flood zone........not the house, just one corner of our property. It is required for our mortgage. We were told to have a land survey done. We did and were able to get the insurance at a discounted rate. For one year, that was fine. Then the FEMA mail started. Our flood insurance more than doubled the second year. Now in our forth year, it's going up again. It's a nightmare.



posted on Jul, 18 2015 @ 10:47 AM
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originally posted by: Neopan100
Just totally sad and disgusted that we have been priced out over stupid insurance that I know 10000% we would never make a claim on.
While I wish you well, it is a lesson about first checking the details before signing a mortgage contract.
That said, can the bank do anything to force you legally?
Check with a lawyer I say, and if they can't repossess if you refuse then flip them off.
Good luck.



posted on Jul, 18 2015 @ 11:18 AM
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a reply to: grainofsand

Well, we are at that stage..we haven't been bound in blood to this particular house. The disclosure letter hasn't been seen yet..and we are waiting on it to sign anything permanent. We can still walk-away. We just really fell in love with this house and while researching this morning I find it very suspicious that homes along the Gulf Coast aren't required to have insurance yet dry ass city in the middle of Illinois is required to have it. As Ron Paul would say EXPLAIN THIS SH!T? Im beginning to put a not so happy picture together of being scammed..by FEMA. So rich m'fers on the coast in their fancy beach homes aren't required to carry the FEMA flood insurance but a 96K house in the middle of dry city is? Doesn't make one lick of sense...The more I read about this the more confusing it is!

So just to clarify if we do end up purchasing said home and said FEMA ins. at the rate they quoted today..this rate can/will go up in future? This isn't good either..I am a long range planner..I have all my chicks in order kind of person. I don't want to end up with willy-nilly insurance that can increase without notice and for no reason.

FE MA Cuts A Break To Wealthy Beachfront Property Owners And Courts Climate Change Disaster



posted on Jul, 18 2015 @ 11:27 AM
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a reply to: Neopan100

Wow, sounds like a banks/fed scam to milk more money out of folk.
Sorry I can't be any help being from the UK though...we have similar insurance requirements here by banks before agreeing a mortgage, but it is only in 'real' flood risk areas.



posted on Jul, 18 2015 @ 02:33 PM
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a reply to: Neopan100

I've seen FEMA's redrawing of the flood maps cause a homeowner who lives halfway up a mountain declared in a flood zone. No insurance company underwrites flood insurance (banks and insurance co are all middlemen). All flood insurance is underwritten by the united states government. Don't get the policy through your bank, get it through whoever you have homeowner's insurance with (bankers love their fat commission). One thing you can try doing is going to your county assessor's office and see if you can get an official to declare you are not in a flood zone. From there, you can take a copy of that letter and submit it to your mortgage company and hope they'll drop their floor insurance requirement (I've seen this work a few times). If that doesn't work, then just insure the structure (no personal property) with a value equal to your mortgage balance and increase the deductible to $5k.



posted on Jul, 18 2015 @ 06:37 PM
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a reply to: Neopan100

All flood insurance is regulated by FEMA, zoned by FEMA, and pricing should be same no matter the carrier.

Is your home pre-firm or post-firm? Do you have a Certificate of Elevation for the dwelling? What flood Zone are you in?

U2U me if you would like assistance. I have been dealing with FEMA for decades.



posted on Jul, 18 2015 @ 06:43 PM
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a reply to: Neopan100

This post is not going to be very helpful, as basically all I can offer is that it 'is' (or was anyway) possible to get FEMA to give you an 'exemption' from flood insurance...

Actually, I'm not sure how things are currently, but around 15 years ago, I went to FEMA twice to get 'excused' from flood insurance - when we bought our house and then again when we refinanced - due to only a corner of our property being in flood zone.

I'm sorry that I have no memory whatsoever of how I did it - I only know that it involved quite a bit of work researching 'how' to approach FEMA, looking at the FEMA maps myself, and writing a letter detailing my 'case' for why my home was not in danger of being flooded despite what the maps show.

I think I was working off some sort of 'outline' that I either got online or from the mortgage company or possibly my home insurance company - it listed certain descriptions of things that were considered evidence that your house was not in danger of flooding...

...i.e. for some reason it made a difference whether the house was built on 'fill' dirt or not...

Anyway, sorry not to be any real help - just wanted to let you know that it is worth doing the research to try for an exemption..


edit on 18-7-2015 by lostgirl because: (no reason given)



posted on Jul, 18 2015 @ 07:12 PM
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a reply to: Ultralight

This is what ive read online..but this isn't the case in reality. Ive called all the major carries that were on the FEMA website of listed ins. people. State Farm, Nationwide, Progressive, USAA..all had a very wide range of prices for me. from 1400 - 2000 $$..not one quote was even remotely close to the other.

I don't know what you mean by pre-firm or post-firm. The insurance companies have ran the elevation reports. We would be classified as AE 1% chance 100 year flood plain. Here is where my blood boils. I grew up there..I KNOW THIS AREA like the back of my hand. I check out the flood map today after reading a horrible article about how some people get out of the ins premium..I look at the street that I know DAMN well that flood..(hold water, even on lighter rains) I actually have photographs of said streets..yet these streets are not in the AE zone???? To get to the house we are trying to purchase you have to go up a slight incline. It is a very visible incline...I have NEVER seen this area get water... also if you go to the fema interactive flood zone map and zoom on on places like Alys Beach, Rosemary Beach, FL or Gulf Shores, AL you will see that they are at 11ft-16ft above sea level in Hurri-freakin-cane alley..yet NO blue area..no AE zone! If you take this map and go back to little old no name town in Illinois where my future house sits..at 416ft above sea level we are in the AE worse flood plain in a spot that I could bet my left arm would NEVER flood....so I don't get it? Either my math is off or people are getting fleeced by FEMA. It's really ridiculous.



posted on Jul, 18 2015 @ 07:19 PM
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a reply to: lostgirl

Yes..we are looking into that today. We have talked with the realtor on the steps to have this property reevaluated. We are going to have it surveyed. Better pay a few thousands to have the property hopefully taken out of the flood zone than to pay over 20K for the 20yrs of payments to FEMA..3astards..may they all rot in hell.



posted on Jul, 18 2015 @ 09:16 PM
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I think FEMA is scamming people, I think they intentionally redrew the flood maps to include properties that never flood so that there is no risk of having to pay out claims on those properties. They get to use those premiums to pay for properties that do flood.
I don`t think there are enough properties that do flood to keep FEMA`s flood insurance program solvent so they have to get money from properties that have no risk of flooding and no risk of having to pay a claim to.



posted on Jul, 18 2015 @ 10:26 PM
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a reply to: Tardacus

FEMA started the rezoning of properties in flood zones app 10 years ago. Why? My professional opinion is to recoup their costs from Katrina, gouging the public in wrongfully rezoning residences into flood zones that really shouldn't be. Areas that have a history of flooding can have surcharges, which is why rates vary. The base rates are the same. Travelers, Hartford, and Stillwater have excellent rates in most areas.

Remember, with flood insurance, there is a cap on limit of coverage and does NOT cover a total loss. Contents coverage is also limited and a rip off of price vs coverage, IMO.

Pre-firm and post-firm have to do with year building and rates, and whether or not a Certificate of Elevation is needed for coverage. A hose built before 1975 is pre-firm, the details of construction are not always available for slope, grade, etc. Rates will be higher in pre-firm areas.

There are other actuarial details that go into the rates for a specific area but...your city's planning dept. Would be the first resource for any fight against FEMA and flood zones.


edit on 1437276556Saturday31Sat, 18 Jul 2015 22:29:16 -0500pmSaturday29101031 by Ultralight because: typos



posted on Jul, 19 2015 @ 12:37 PM
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originally posted by: Neopan100
a reply to: lostgirl

Yes..we are looking into that today. We have talked with the realtor on the steps to have this property reevaluated. We are going to have it surveyed. Better pay a few thousands to have the property hopefully taken out of the flood zone than to pay over 20K for the 20yrs of payments to FEMA..3astards..may they all rot in hell.


Make sure that the property really 'has' to be surveyed, because I never had to do that - it didn't cost me anything except time and effort to get the flood insurance exempted...




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