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Old 10-28-2007, 06:54 PM
 
Location: New Jersey
409 posts, read 2,640,280 times
Reputation: 386

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We live in NJ and on a man made lagoon that never rises much even in a hurricane which we never really get, just nor easters. we are forced to pay flood insurance of $1000/yr because we still have a mortgage. Is there any legal way around this? Is there any way of proving we are not on the bay or ocean and havent flooded in 28 years.
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Old 10-28-2007, 07:05 PM
 
Location: Marion, IN
8,191 posts, read 29,226,378 times
Reputation: 7294
Here is a link to FEMA's flood map site. FEMA: Flood Insurance Rate Maps (FIRMs) My house in FL was in a 100 year flood plain and I had to carry insurance.

After seeing all of the flooding in the NE last year I will never be without flood insurance. It only takes the right set of circumstances to loose everything.
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Old 10-28-2007, 07:06 PM
 
Location: southern california
61,307 posts, read 79,388,460 times
Reputation: 55458
Quote:
Originally Posted by mimosa View Post
We live in NJ and on a man made lagoon that never rises much even in a hurricane which we never really get, just nor easters. we are forced to pay flood insurance of $1000/yr because we still have a mortgage. Is there any legal way around this? Is there any way of proving we are not on the bay or ocean and havent flooded in 28 years.
not to worry.
huge sumanis predicted for oct 2012.
stephen s
san diego ca
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Old 11-01-2007, 09:29 PM
 
Location: Pompano Beach, FL
36 posts, read 134,490 times
Reputation: 31
Default You might be able to lower the amount or drop it

Did you get a elevation certificate for your house?
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Old 11-02-2007, 05:28 AM
 
3,763 posts, read 11,323,570 times
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For 30+ years my parents paid flood insurance, due to a small river that runs at the very back of their property. The trick is, the river is man made (a wetland was drained into the river) and they can open gates to lower the water levels at any time. This is in SE Michigan, by the way - not that it matters.

In the 1980's the property owners banded together and got the Army Corp of Engineers, and well as other surveyors etc to do surveys of the area - essentially documenting the fact that there was NO WAY the river could ever flood.

As such, by 1990, the property owners were finallly able to drop their flood insurance.

You've got to research and document and appeal it - and provide the evidence to back up your appeal. They can still deny you and require the insurance, but if you're lucky - you'll prevail.
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Old 11-02-2007, 08:12 AM
 
Location: Home is where we park it.
3,099 posts, read 8,564,795 times
Reputation: 3221
And all it takes is for Mother Nature to get even and prove the Army Corp of Engineers, FEMA and everyone else wrong.

We don't live in a flood plain according to FEMA so we did not have to carry flood insurance on this house but we chose to anyway. Rather have it and not need it...we live 20 miles from the coast, the NC coast and could get whapped by a hurricane. Liz
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Old 12-04-2007, 11:47 AM
 
11 posts, read 34,803 times
Reputation: 19
$1000/yr is alittle pricey. Did you lender get the policy for you? or did you go and get it on your own?

Either way there is a process through FEMA that is called a Letter of Map Amendment or Revision that allows a homeowner to petition FEMA on the basis of their homes elevation that they should not be considered to be within the SFHA.
First thing first. Call you lender and "DISPUTE" their determination. Most lender use an outside source to complete the required determination and most all of those companies offer a dispute resolution service to the lender.

If they say flood insurance is still required then you should obtain an elevation certificate (EC) . Based upon the information on the EC you can decide whether you should petition FEMA or not. Typically FEMA requires the Lowest Adjacent Grade elevation to be equal to or greater than the Base Flood Elevation. Both of these will appear on the EC.
If you meet this requirement then you just need to determine if you are going to apply for a Letter of Map Amendment(LOMA) or a Letter of Map Revision (LOMR).

The difference is that a LOMA is for a home built on natural grade and the LOMR is for a home that was built on fill. ( meaning dirt was brought in to elevate the building location) The only other differnce is that FEMA will process a LOMA for free but will charge $425 to process a LOMR for a single residential lot with one structure.

You will need to fill out an application availabe on Federal Emergency Management Agency. They have a search engine on the home page and you can type in mt-ez for a loma and mt-1 for a LOMR.

You will need:
copy of recorded deed
copy of the area on the FIRM you are located
copy of a parcel map or subdivision map showing your lot location
a survey or aerial showing the building location
a copy of your EC
If your apply for a LOMR you will need the community to sign off on what is call the "community acknowledgement of fill" form which is available with the MT-1.

FEMA will process the request within 60 days (typically) of recieving the request and all info. FEMA will issue a letter stating whether they are amending the map or not. If it comes out in your favor you can then send a copy to your lender to hopefully get the flood insurance requirement waived. You "may" also be eligible for a refund on some of the flood insurance premium. no guarantee on that though.

Even when someone gets a LOMA or LOMR I still recommend them consider carry a Preferred Risk Policy because it is cheap (alot cheaper than a standard policy) and it gives some nice peace of mind.
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