FEMA is going to pay for homes damaged that arent covered by insurance!

[Three Wolves In Snow]

Here's what I read:

FEMA or state government programs may offer special assistance; your insurance agent should be a good source of information in the coming days and weeks etc... In NY it was just announced that FEMA may be able to give you up to $31,000 per home but you need documentation. So take pics, etc. Make sure you document all your losses.

"Give you" is not "loan you".

Next, home and business owners may be able to use disaster assistance loans from the U.S. Small Business Administration which will lend money at 4 percent (if you qualify). Many flood victims living in federal disaster areas will also be eligible to receive aid, under certain circumstances.

Note the keyword that separates these two paragraphs...in one paragraph, we were talking about FEMA GIVING money to people. NEXT, as in, the NEXT thing, home and business owners may be able to use...which means, IN ADDITION TO, meaning NOT THE SAME THING as....SBA IS a loan. FEMA they are GIVING it to you.

So, if it comes from the government, WE ARE paying for it.

Let's go down a few more paragraphs:

Once the president designates an area as a major disaster zone, it makes the residents of that area eligible for FEMA assistance: that includes rental assistance and low-rate loans to deal with repairs etc Residents and business owners can begin applying for grants that may be offered by registering online...

Grants.

Huh.

Last I heard, a GRANT was NOT a loan. Student grants...nope, never had to pay those back. Grants..."free" money from the government! (Except, in the end, you and I pay for it.)

[burdell]

Originally Posted by smittyjohnny38

Truth hurts so mock the OP like your peanut gallery friend Arus. Nice deflection. How much is FEMA giving you?

The TRUTH you refer to is you have a history of starting threads based on rants having NO factual basis such as one you started with "My capital gains rate if I hold more than a year is 15%. That money was already taxed at approx. 30 percent initially." which is simply not true.

Given your history, WHY should anyone believe you now?

[Loveshiscountry]

Originally Posted by smittyjohnny38

After the Storm: Now What? - Yahoo! Finance

One more death blow to the long lost art of self reliance and personal responsibility. Dont buy enough insurance (ESSENTIALLY LEAVING PARTS OF HOUSE UNINSURED), and dont save up money for a rainy day .This is what we are left with. A society of dependents.

What happens if I do not have the money after the deductible to fix up my home then what can I do? A. If, as in the example above, you have $25,000 of damage but your insurance company after the deductible will only give you a check for $10,000, then to get the additional $15,000 you may need to do the following:
FEMA or state government programs may offer special assistance; your insurance agent should be a good source of information in the coming days and weeks etc... In NY it was just announced that FEMA may be able to give you up to $31,000 per home but you need documentation. So take pics, etc. Make sure you document all your losses.

Correction. We the people will pay