if you have a mortgage on your house, they prolly insist on itUnfathomably stupid. Most people in flood-prone areas don’t even have insurance, so how could they be moving there because of the insurance.
Besides, where could 50 inches of rain fall WITHOUT causing terrible damage? If the ground weren’t so flat, what would happen in the valleys?
It doesn’t happen inland. That’s the point.
Folks shouldn’t live in low areas that are prone to hurricanes.
Not true, homeowners who take out a mortgage from a lender that is federally regulated or insured (such as an FHA mortgage) and buy a home in a high-risk flood zone (also known as a Special Flood Hazard Area) will be required to buy flood insurance. In most cases, the homeowner will have to pay for flood insurance every year until the mortgage is paid off.
When I was buying my first house, I checked flood insurance map before I went any further.
Most property owners in those areas have insurance because of the National Flood Insurance Program. The ones that will be screwed are those that are outside of the mapped floodplains (and there will be a lot), but I will bet you that Trump will (like every president since Johnson) waive the restrictions on disaster relief to get them funding to rebuild.
if you have a mortgage on your house, they prolly insist on it“Unfathomably stupid. Most people in flood-prone areas don’t even have insurance, so how could they be moving there because of the insurance.”
This insurance is for those who live in high risk uninsurable areas by private carriers. People on the Mississippi River have been gaming this program for years.