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AT A LOSS

Flood insurance rates hit ‘too close to home’

December 19, 2013

MUNCY — Eleven days. That’s when Jeff Waltman may lose his home at 113 N. Washington St....

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(62)

biobabycj

Dec-20-13 11:32 PM

thank you for answering my question. wow. a yearly payment of 9 thou.... what if one lives on ssi. they dont even make that a year.... what a hunk of s h i t this is. i understand totally a slightly higher insurance and less coverage, like computers and luxury items. however,,9 thou a year.... wow. insanity. there will be a lot of homeless people

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BornHere

Dec-20-13 3:36 PM

Merry Christmas susquehannaretriever and MariananeK.

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susquehannaretriever

Dec-20-13 3:19 PM

Just a quick comment and request. ALot of you like to make this political; I know it involves politics and that you cannot escape that. But if you can refrain from useless comments about*****republicans, stupid libtards,etc., etc., it would help. Those of us that are highly affected by this insanity don't care if those that passed it, those holding up the legislation to delay this, etc. are democrat, republican, independent, communist, liberal, conservative, etc....could care less. Don't judge us for living in a flood zone, if you think we deserve the higher rates just don't comment. Most of us are under enough stress, can't sleep, worried about losing our homes, ruined credit, etc. If you can't suggest a positive move or suggestion to help, don't pile on more negativity. THANKS, Merry CHristmas everyone.

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wwhickok

Dec-20-13 1:07 PM

It's definitely wrong! I agree 100%

Like I said earlier in this discussion, for me, as a renter, it really complicates things. Right now for example, I'm trying to find a bigger place to live because of family growth. Finding an affordable 3BR house was hard enough before, now, with these flood insurance costs, that struggle just got even harder.

More importantly, the landlords of these properties are going to have an even more difficult time making any profit off of these apartments and for that matter, finding tenants for them. It's flat out crippling no matter how you look at it and it's just wrong!

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MariananeK

Dec-20-13 7:41 AM

When I purchased my home several years ago I was told that I was in a flood plain and that the property has flooded in the past, but I was not told the extent of the flooding until after I moved in and was told by neighbors just how high the flood waters got in the house. If I knew the extent of the flooding I would not have purchased my house. Now I am stuck as there is no way I could sell and move. Now I am looking at a flood renewal that is 4 times higher than what I am paying now it is just wrong.

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USABorn

Dec-20-13 5:42 AM

MimLogue - 9:09 AM

"The dems are doing everything to stop or put this on hold."

Well gee Mim......if they are doing so much, how did it get passed in the democrat controlled Senate?

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RealAmerican

Dec-19-13 11:15 PM

What a mess. I can't ignore people like tunedin. The politicians have made this a mess. Why have the insurance companies let the government do this? Do they also profit?

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TunedIn

Dec-19-13 10:24 PM

Unfortunately the challenge of these new insurance rates may impact EVERY property owner in the County. When these, perceived or real, flood prone properties are devalued due to the fair market value decreasing the tax base will be eroded. Someone will ultimately need to make up for the loss of tax revenue and it may just be those properties which are not impacted by this legislation. So this erosion of the tax base might just impact everyone; unless of course you are counting on reduced government spending to make up the difference...unlikely.

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soupy3116

Dec-19-13 9:44 PM

This is a yearly payment. Lets do some easy math, $9000 a year for a house that cost 125,000. A 30 year mortgage and you'll end up paying $270,000. No matter how you twist it, that's beyond insane

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biobabycj

Dec-19-13 9:34 PM

i can understand maybe a couple hundred more, but from dang near 600 dollars to 9 thousand dollars seems a bit rediculous. will the 9 thousand dollar insurance cover a brand new house and ALL the top notch stuff people have inside their homes? is this a ONE TIME payment or is this every year, because every year is absurd.

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farmer

Dec-19-13 9:18 PM

wwhickok: "Obama is the worst president we have ever had. All of those who voted for him, I really hope you're proud of yourself, because you're all idiots!" I have long preached civility on this site, especially now during the Christmas season, but comments like this make it very hard to turn the other cheek. To suggest, no, proclaim that the majority of voting Americans are "idiots",,,well some might say you should seek professional help. But today, I just think you're a pompous a.. !

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soupy3116

Dec-19-13 8:55 PM

Last year I was a first time homebuyer. We ended up purchasing a house in November of last year, in a flood plain. I know and I accept the risk. I knew what the current cost of the insurance was and all together the house was affordable. The house has been here for 103 years and never been flooded. Now why all of a sudden do I have to pay more for insurance that we will most likely never use. The realtors that sold us the property at the very least could have informed us of this prior to buying the house, so that we could reevaluate our finances. To late for that, now we are stuck

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BornHere

Dec-19-13 7:54 PM

What does that mean?

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MikeSmith

Dec-19-13 6:31 PM

12 hours, 1 minute, and counting.

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Capricorn1

Dec-19-13 5:25 PM

The Dems are doing everything to stop or put this on hold -Mim

I'm sure they are. Even though they overwhelmingly supported this legislation, now that they see the effects, I'm sure they want to postpone implementation until after the elections next year. Sounds familiar. The sad thing is, if they would have done the affordability study that the bill calls for BEFORE the law was actually passed, a lot of this information would have come to light. Leave it to government to pass a bill that outlines the requirement to do studies about the effects of legislation after they pass the legislation.

See:

Flood Insurance Changes Prove Politically Challenging (Thanks Shaman)

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JoshEly

Dec-19-13 4:27 PM

I've started a petition to fight the Biggert-Waters Flood Insurance Reform Act! Please sign it immediately if you want your voice to be heard. Congressman Marino said he would use our petition in Washington to help fight this for us! The link to the petition is here: *******petitions.moveon****/sign/repeal-biggert-waters

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Thomas64

Dec-19-13 2:49 PM

We were having the same discussion the other night at work if something is not done what will happen to all of these properties I had assumed that the banks will auction them off, let's just hope someone comes up with some kind of solution.

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BornHere

Dec-19-13 1:56 PM

Scott36, it's funny that you brought that up because my husband and myself were just discussing that. This will leave all of this property available to the "highest bidders" or the "correct people". If this does happen my question is where are all of these people going to live?

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Scott36

Dec-19-13 1:45 PM

Just a thought... If all of these properties end up being devalued, repossessed, bought out, etc., Someone will buy them. If the "correct" people own them, want to bet that the system goes back to the way it was?

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StopFemaNowPA

Dec-19-13 12:11 PM

Join us on Facebook StopFemaNowPA :*****://m.facebook****/groups/743581985669990?ref=bookmark&__user=668346071

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RealAmerican

Dec-19-13 10:59 AM

The socialist dictator in chief, of Barrackistan, will fall to us Tea Parties. Muslim. The terrorists win. Speak American or get out. Love it or leave it. We built it.

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RealAmerican

Dec-19-13 10:57 AM

This guy wants fema to bail him out. Hey, plastic shaman, you will be locked in a fema concentration camp right alongside this guy. You can apologize when us Tea Partiers free you with our assault rifles. Our ar15s will destroy the drones, tanks, nukes, bazookas, aircraft and naval units of the USA military. Imagine Red Dawn

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RealAmerican

Dec-19-13 10:54 AM

Wwhic****, dude they will just disagree with you out of prejudice. When I say prejudice I mean it in the most literal sense. They pre-judge your comment without either reading it or thinking about it. They are really dumb, ignorant people. I troll because they wont listen, so I deserve it. I fight prejudice with prejudice.

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MECURY2

Dec-19-13 10:16 AM

One more thing I would like say, I know this "ACT" was a bipartisan deal which was signed by the President but, we have the problem with BIG BANKS and INSURANCE GIANTS who again are being "greedy",example the kid at Halloween who reached in the bowl of candy that says,"take only one" but, grabs a handfull. This is the reason we need to stop BIG business from making the poor even poorer! I'm hoping someone will shine a light on this "money grab" like Mr. Tom.

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rsrobbins

Dec-19-13 10:05 AM

Once again, this article fails to mention that there is a homestead exception. My flood insurance did not go up because my house is my primary residence. This only affects rental properties.

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