If you have the money to live near the water and don’t get the flood insurance, you risk having your 400K-700K house go bye bye. If you have a mortgage your still responsible to pay and now you have to pay to live somewhere else too.
Mortgage companies don't let you accept the risk of you not having fire insurance. And mortgage companies can't stop you from declaring bankruptcy.
If you aren't in a flood zone, it seems like flood insurance shouldn't be that expensive so it being a requirement of the loan wouldn't be a big deal.
If you are in a flood zone, you (or I guess I should say I) would think they sure as hell would require their loan to be flood protected. No insurance/no loan.
And I don't think I would want to give out loans to anyone in the region who didn't have insurance against damage from hurricane/tropical storms.
But I guess it is just one of those head scratchers I'm not going to understand. [Reply]
Here in daytona beach we took a damn pounding. Flash floods everywhere. Powerlines all down , Luckily my house was good. Prayers up to anyone who got the brunt of it. If i can do anything let me know .Man this is awful . [Reply]
Originally Posted by DaNewGuy:
Here in daytona beach we took a damn pounding. Flash floods everywhere. Powerlines all down , Luckily my house was good. Prayers up to anyone who got the brunt of it. If i can do anything let me know .Man this is awful .
Glad to hear that you pretty much made out OK. Here outside of Jacksonville we were spared much of what was originally predicted so I count my family and I as blessed. [Reply]
Originally Posted by FlaChief58:
I've never lived in a flood zone, but have talked to people who do. Most are willing to roll the dice and pray they never have a problem. Also, it's really hard and expensive to get flood insurance if you're in a flood zone.
I'm not sure if mortgage companies require flood insurance though
Bolded is not true. I have flood insurance because I live in a flood zone.
The National Flood Insurance Program (NFIP) provides flood insurance to property owners, renters and businesses, and having this coverage helps them recover faster when floodwaters recede. The NFIP works with communities required to adopt and enforce floodplain management regulations that help mitigate flooding effects. Keep in mind your community must participate.
Flood insurance is available to anyone living in one of the 23,000 participating NFIP communities. Homes and businesses in high-risk flood areas with mortgages from government-backed lenders are required to have flood insurance.
I also have a certified Elevation Certificate.
Basically this is an a document that you file with your community that shows through elevation shots and official records that your buildings/dwellings and any substantial improvements in all identified Special Flood Hazard Areas (SFHAs)are properly elevated. By having this Elevation Certificate it lowers my flood insurance from $2500 a year to about $200 a year. [Reply]
That’s bad but if the concrete piers are actually still usable that won’t take too long to repair. The question is when will each project actually get started and how will they decide priority. Seems like the causeway to Sanibel will be a top priority. [Reply]
Originally Posted by mr. tegu:
That’s bad but if the concrete piers are actually still usable that won’t take too long to repair. The question is when will each project actually get started and how will they decide priority. Seems like the causeway to Sanibel will be a top priority.
Rebuilding ther pier will be low on the list of things that need to get done. It'll likely take a few years before they work on stuff like that [Reply]
Originally Posted by FlaChief58:
Totally fake. For water to be that deep where they're talking about, Tampa would have to be under water. Not just near the bay, the entire city.
I thought the water was way too clear to be hurricane whooped up water but still a fictional shark swimming up the highway is cool. Glad you guys are safe. [Reply]
My Niece lives in Orlando and she said that the water got all the way up to her house before the rain stopped. She came really close to having it flooded. [Reply]
Originally Posted by FlaChief58:
DeSantis did a fantastic job both in preparation and cleanup. 46000 linemen, 5000 national guard, releif funds etc. We're so lucky to have him as our governor.
