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Thread: Flood Insurance

  1. #1

    Default Flood Insurance

    Some folks are really screwed as the idiots play games in DC.

    http://www.wickedlocal.com/news/2018...es-in-shutdown
    Remember, "I will proudly shut down the government!"

  2. #2
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    Default Re: Flood Insurance

    Quote Originally Posted by Fastcar View Post
    Some folks are really screwed as the idiots play games in DC.

    http://www.wickedlocal.com/news/2018...es-in-shutdown

    I don't understand your comment about being screwed. From what I read it only affects those seeking a new policy and does not affect those that have a policy in place. I have a very hard time imagining many people trying to start a new flood insurance policy in January.

    Oh but I do agree that the occupants of DC are idiots and playing games,.... all of them with very few exceptions!
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  3. #3

    Default Re: Flood Insurance

    Quote Originally Posted by R2D2 View Post
    I don't understand your comment about being screwed. From what I read it only affects those seeking a new policy and does not affect those that have a policy in place. I have a very hard time imagining many people trying to start a new flood insurance policy in January.

    Oh but I do agree that the occupants of DC are idiots and playing games,.... all of them with very few exceptions!
    Anybody attempting to secure a mortgage for a home that is in a flood plain the lender usually requires flood insurance before they can close on the property. Moot now.
    Remember, "I will proudly shut down the government!"
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    Default Re: Flood Insurance

    Quote Originally Posted by Fastcar View Post
    Anybody attempting to secure a mortgage for a home that is in a flood plain the lender usually requires flood insurance before they can close on the property. Moot now.

    Got it... understood
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  5. #5
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    Default Re: Flood Insurance

    Only those who bought homes this month, everyone else will be affected when the existing policy come up for renewal. What this means is that 100% of the policyholders will be affected within the next 11 months. I think the real problem will be for those with mortgages, who have banks that require flood coverage. Simply another example of Trump destroying the basics of a civilized society. MAGA, my ass!
    LOL ROOT, Jeffrey Laughed at this post

  6. #6

    Default Re: Flood Insurance

    My point was in the event of a shutdown the program would be unfunded. Thus anybody who locked in a rate could possibly loose it if the home they were attempting to purchase was on the coast. Most banks will not release a mortgage without the protection of flood insurance on homes located in flood prone areas. Seems that we will be back into this position in a couple of weeks as congress and DA continue to stroke their egos and screw their constituents.
    Remember, "I will proudly shut down the government!"

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    Default Re: Flood Insurance

    Same as Hurricane insurance. If there's a named storm coming, and you need insurance, you won't get it.
    I found a preacher who spoke of the light but there was brimstone in his throat
    He'd show me the way according to him in return for my personal check
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  8. #8

    Default Not good

    Remember, "I will proudly shut down the government!"

  9. #9
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    Default Re: Not good

    Hopefully Dec 7th won’t once again become a day that lives in infamy.
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  10. #10

    Default Re: Not good

    I called Nelson's office they are on it. What continues to baffle me is that I found it on a Boston channel yet nothing was mentioned locally.
    Remember, "I will proudly shut down the government!"
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  11. #11
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    Default Re: Not good

    Maybe the locals don’t want to draw attention to the fact that the GOP regime isn’t taking care of business.
    "...of no more satisfying conceit than the discovery of such hidden depths of character in one's own child..." - From Survive the Savage Sea
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  12. #12

    Default Re: Not good

    Could be, they said they like dumb people
    Remember, "I will proudly shut down the government!"

  13. #13

    Default Flood Insurance Again

    I don't understand why this clustef**k is not reported by the media in FL. If this goes unfunded folks will not be able to purchase a home as most banks require flood insurance along the coast and current homeowners will loose their coverage..

    http://www.wickedlocal.com/news/2018...adline-looming
    Remember, "I will proudly shut down the government!"

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    Default Re: Flood Insurance Again

    This is a pain the ass. People need to have flood insurance to protect their homes. I hope they straighten it out soon.
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    Default Re: Flood Insurance Again

    Quote Originally Posted by Fastcar View Post
    I don't understand why this clustef**k is not reported by the media in FL. If this goes unfunded folks will not be able to purchase a home as most banks require flood insurance along the coast and current homeowners will loose their coverage..

    http://www.wickedlocal.com/news/2018...adline-looming
    Quote Originally Posted by Flatsflyer View Post
    Only those who bought homes this month, everyone else will be affected when the existing policy come up for renewal. What this means is that 100% of the policyholders will be affected within the next 11 months. I think the real problem will be for those with mortgages, who have banks that require flood coverage. Simply another example of Trump destroying the basics of a civilized society. MAGA, my ass!
    It seems you have found a common cause with the POTUS People need to assume the appropriate level of risk that they have chosen to live or invest in. The national flood insurance is promoting more and more money to be invested in high risk locations that see their equity increase upon the backs taxpayer subsidies. If banks won't risk the loan, it is not the duty of the public to artificially maintain value. Talk about a hidden tax on the middle class that benefits the rich. 300,000,000 people are carrying over a 100.00 of debt each to cover the $40 billion Probable Maximum Annual Loss risk assumed by a 5,000 luxury properties which are predominantly the wealthy's second homes built in the line of fire. and at the same time disturbing the coast's natural resistance to eroding shorelines.

    If I could afford a beach lot, I would build a disposable gilligan Island style weekend getaway, and keep primary residence inland where there is less loss risk. If high risk waterfront properties were allowed to assume their natural value based on the risk of loss Maybe I could afford one.

    The Watermark (NFIP Financial Statements)


    The Watermark is a quarterly report that provides transparency on the financial state of the National Flood Insurance Program (NFIP). The goal is to give interested stakeholders one central location to secure answers to reoccurring questions pertaining to the NFIP.






    Size Publication Date
    Watermark First Quarter 2018 1.30M March 27, 2018
    Watermark Second Quarter 2018 1.21M June 21, 2018
    Watermark Third Quarter 2018 1.52M September 20, 2018



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