The Shutdown’s Housing Market Woes It’s a great time to buy a home, and you’re ready. You’ve saved up a suitable down payment, found a home, and settled on a lender. As an added bonus, interest rates are at their lowest point in the last nine months – despite the Federal Reserve’s interest rate hikes.
Flood Insurance
Every year, floods cause significant property damage throughout America. Years ago, private insurers had difficulty providing economically viable flood insurance, so the government stepped in to subsidize the process. The National Flood Insurance Program (NFIP), administered by the Federal Emergency Management Agency (FEMA), was created in 1968 to provide flood insurance to properties that are
“Acts of God”, for insurance purposes, are defined as events that occur through natural causes and could not be avoided through the use of caution and preventative measures. In essence, the phrase “Acts of God” refers to natural disasters.
The phrase generally brings to mind hurricanes, tornadoes, earthquakes, hail, or floods. However, the lines can
Your home has suffered serious damage. Perhaps the cause was a fire, flood, storm, burglary, or vandalism. In any case, you believe you are covered, file your insurance claim, only to have it denied.
Your first instinct probably involves cursing your insurance agent at the very least, and we will not even consider the details
Flood insurance is required if you live in an area designated as a potential flood zone by the Federal Emergency Management Agency (FEMA). However, some 20-25% of flood claims come from moderate and low risk areas – not to mention the impact on uninsured people who are affected by floods. How do you determine your
If you live in an area designated as a potential flood zone, you are probably paying a flood insurance premium. However, flood risks are reassessed and changed periodically. You may find that your property has been incorrectly designated during a reassessment — or has been incorrectly designated all along. If so, you need to submit
The National Flood Insurance Program is a government program run by the Federal Emergency Management Agency (FEMA). If your home or business is located within a 100-year flood zone as determined by FEMA, you will be required to purchase flood insurance to obtain a mortgage or business loan. Flood insurance must be purchased as a