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It's daunting but my wife was successful in her request for a change. Persistence is key.
I had a friend who did this. She appealed the flood plain designation so she could add on to her house. It took almost two years, and she hired a consultant who had done it before to help her with the process.
She also prevailed, but like you said it took persistence.
Bought this house in March 2017. Mortgage rates have gone down quite a bit and I tried to refi with old lender. In the meantime, Flood zone went from X to AH. Never would have bought here if ANYONE had mentioned flood. Never. Not disclosed at time of sale.
Now I am being told I need a surveyor and an elevation certificate to get flood insurance. Can't even get a quote without it??? So then I thought, don't refi, just leave it alone. Lender says if they (the loan servicer) find out about the new flood zone, they will mandate flood insurance. This is not fair. Now I am in a bind. This is a reverse mortgage and lender says go get the survey and certificate so I can refi. What should I do? Sue the realtor for never telling me about this flood zone?
If it wasn't disclosed, and you are within the statute of limitations, I would pursue something with your Realtor.
That is not cool.
Go through your paperwork and look for the one that indicates if property is within a flood zone.
Meanwhile, if you are in a flood zone, you should know it by the creek, river, lake, or ocean nearby.
Is the realtor supposed to have a crystal ball? The OPs designation was changed two years after they bought the home.
You can be hundreds of miles from a creek, river, lake, or ocean and still be in a flood zone. It is all about elevation.
To the OP, my mother's only vice is insurance. If you can write a policy on it, she will.
She has a condo in an area that isn't a flood zone in Myrtle Beach. When hurricane Floyd came through, it completely flooded her complex and she got 5 feet of water in her condo.
Because she was the only person in a complex of about 150 condos, she had an agent there the next day getting her help while everyone else was having to wait for FEMA.
Is the realtor supposed to have a crystal ball? The OPs designation was changed two years after they bought the home.
You can be hundreds of miles from a creek, river, lake, or ocean and still be in a flood zone. It is all about elevation.
To the OP, my mother's only vice is insurance. If you can write a policy on it, she will.
She has a condo in an area that isn't a flood zone in Myrtle Beach. When hurricane Floyd came through, it completely flooded her complex and she got 5 feet of water in her condo.
Because she was the only person in a complex of about 150 condos, she had an agent there the next day getting her help while everyone else was having to wait for FEMA.
You don't need flood insurance until you do.
Yeah - I didn't read carefully - if it was changed, then no, there wouldn't seem to be anything to disclose at time of sale.
At the time of the sale, I have a doc from the lender stating the property is X500. Is this NOT considered in a flood plane? This doc was NEVER given to me until now. The fact that I got it now, I am wondering just what the lender is trying to prove.
At the time of the sale, I have a doc from the lender stating the property is X500. Is this NOT considered in a flood plane? This doc was NEVER given to me until now. The fact that I got it now, I am wondering just what the lender is trying to prove.
No, properties in the X zone are considered above the 500-year flood level. NOT high risk.
The lender is showing you that your property is now in the risk zone and one that requires flood insurance.
Especially in the case of condos/townhomes, lots of new construction in the area can cause a change in the flood maps.
Here is the tool I use. The date of the update will be on the map. Realtors rarely include this information in the listing, when in fact, it should be a filter criteria, let alone the big difference it can make on payments. https://msc.fema.gov/portal/home
. Actually EVERYONE should have flood insurance, because it covers more than people think.
I am a former insurance adjuster and I do not agree.
I do not have flood insurance.
I do literally live on the top of a mtn, water flows off the side before it can acumulate...
Others are correct, no one can predict the zone changing. OP can check his elevation and if it's an error request it changed. (Check the actual hoise, not the yard.)
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