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re: High credit score = no assistance from FEMA

Posted on 8/24/16 at 8:23 am to
Posted by Jim Smith
Member since May 2016
2915 posts
Posted on 8/24/16 at 8:23 am to
quote:

After Katrina we got a $2500, I think, FEMA disaster grant just after the storm. To fix our place we had to take out an SBA loan. Ours was $190k, we had just bought our home and had no flood insurance...the federal government, not FEMA, came back and gave us a $150k grant to pay off what it did of the SBA loan.



Wait, are you fricking kidding me? You got an SBA loan and FEMA came back around and gave you a grant to pay your SBA loan off with?? What?
Posted by slackster
Houston
Member since Mar 2009
85496 posts
Posted on 8/24/16 at 8:39 am to
No, FEMA didn't pay him, the government allocated a ton of additional funding after the fact.
Posted by Gaston
Dirty Coast
Member since Aug 2008
39208 posts
Posted on 8/24/16 at 9:46 am to
I don't know how you got that out of what I wrote. I received $150k grant to pay off the $190k SBA loan I took out, but it was long after FEMA left the scene. Really though, they bailed out Countrywide. With the $40k remaining and the $180k loan I had to purchase the house two years prior, for $200k, I was upside down in the home.

It was all so fricking wonderful contemplating bankruptcy for months on end though, let me tell you. Living in a FEMA camper in the front yard with a wife who had become pregnant while we were refugees, all to slave most evenings (after commuting to NOLA on a fricked up bridge to work at Lockheed) in a fricked up house in a destroyed town, with bankruptcy looming. All just peachy, I wish I could describe it better.
This post was edited on 8/24/16 at 9:48 am
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