Flood Insurance

[Fastcar]

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

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

[R2D2]

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!

[Fastcar]

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.

[R2D2]

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

[Flatsflyer]

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!

[Fastcar]

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.

[sundealer]

Same as Hurricane insurance. If there's a named storm coming, and you need insurance, you won't get it.