- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Flood insurance rate increases
Posted on 3/19/15 at 10:25 am to lsu13lsu
Posted on 3/19/15 at 10:25 am to lsu13lsu
quote:
The government created a system where you do not have a choice unless you pay 100% cash for your house.
Just because a bank requires you to have insurance to take out a mortgage, doesn't make flood insurance a tax. If you don't want to pay flood insurance, move out of a flood zone or take out your mortgage from a bank that is not FDIC protected.
ETA: From the NFIP Website...
quote:
If the property is not in a high-risk area, but instead in a moderate-to-low risk area, federal law does not require flood insurance; however, a lender can still require it. In fact, nearly 1 in 4 NFIP flood claims occur in these moderate- to low-risk areas! Note that if during the life of the loan the maps are revised and the property is now in the high-risk area, your lender will notify you that you must purchase flood insurance.
This post was edited on 3/19/15 at 10:33 am
1
Posted on 3/19/15 at 11:55 am to stevengtiger
Insurance provided by the federal government. Based on maps put together by the federal government. Big banks and the federal government helping each other out.
Sounds legit.
I hope you understand this is a subsidy for people to live in disaster prone areas. That is all it is. Republicans/Red State Louisiana highly support it but don't realize it is a subsidy. Those same people scream about handouts to everyone else. I also hope everyone's rate increases enough to where taxpayers do not have to foot the bill for people who choose to live in flood prone areas.
Sounds legit.
I hope you understand this is a subsidy for people to live in disaster prone areas. That is all it is. Republicans/Red State Louisiana highly support it but don't realize it is a subsidy. Those same people scream about handouts to everyone else. I also hope everyone's rate increases enough to where taxpayers do not have to foot the bill for people who choose to live in flood prone areas.
This post was edited on 3/19/15 at 11:56 am
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News