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Flood insurance rates

October 13, 2013

I recently became aware of the Biggert-Waters Flood Insurance Reform Act of 2012 while trying to sell my home located in a flood fringe area....

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(9)

pinecr

Oct-22-13 12:27 PM

Sorry should have been think - not thing

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pinecr

Oct-22-13 12:27 PM

From the comments on this, it is know wonder our goverment can get away with such ridiculous policies...people really truly believe that it is going to help...can't anyone thing for themselves?

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ladydawg4

Oct-13-13 4:37 PM

Tell me where, in this economy, are middle class, working families going to have that kind of money stowed away to buy a house in cash?

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fromtheport

Oct-13-13 3:24 PM

Pay cash for the house, and dont pick up flood insurance...problem solved

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ladydawg4

Oct-13-13 1:54 PM

I do feel your pain. I recently looked at a house along pine creek that was beautiful. I fell in love until I realized that my mortgage payments would be outrageous because of flood insurance. Now don't get me wrong, houses in the zone that always get flooded or run a risk of getting flooded should have flood insurance. This home sat on the high bank of Pine Creek and has never flooded. Not even in 1972. The water runs to the other side of the creek where it's all low farm land. This house never required flood insurance until FEMA redid the flood planes. That house sat empty for 9 months before I looked at it and remained empty for another 6 months until somebody decided they wanted to pay the $5,000 a year for flood insurance on a house that will never ever see flood water. Good luck selling your house because you'll need it....

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Alsever

Oct-13-13 12:03 PM

Having worked on Damage surveys after 18 Fema declared Floods, I must commend our representatives for finally making people in the floodplains pay for their decision to gamble with Acts of God. I can show you many houses that were rebuilt time and time again at tax payers expense because owners refuse to take "buy out" money. Now they can pay for their decisions. But I personally will bet that the Feds will change this policy and make the rswst of us keep paying for rebuilding their homes after every flood.

And by the way, we do NOT bother with flood insurance on our building in English Center--if it goes, it goes. If an Act of God destroys it, I assume the local churches will pay for any damages done by God.

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BornHere

Oct-13-13 10:59 AM

This is one of the reasons there are so many homes up for auction that are located "near water", it's getting to the point where it is impossible to own a home in the country and at resale to get your money out of it.

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rick424

Oct-13-13 9:30 AM

If you are looking for positive comments of your situation on here. forget it. They will say too bad for you.

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USABorn

Oct-13-13 6:34 AM

Dumbama needs the additional money.....not for weather disasters, but for an even worst disaster that is going to cost more in lost jobs and reduced hours and higher costs for insurance.....Dumbamacare.

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