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Message
re: Just got denied for DSNAP
Posted on 8/30/16 at 2:02 pm to LSUEEAlum
Posted on 8/30/16 at 2:02 pm to LSUEEAlum
quote:
If he didn't have flood ins then he either owned his home outright or he was in zone x which mortgage lenders do not make you purchase flood ins because the risk of you flooding is so low as in .01% chance of flooding.
This only means your flood insurance rates would be next to nothing. You may not be required because you are outside of a 100yr flood plane, but what is your elevation above that. you need to take that into consideration, not just your requirement from a lender. I have a good friend in DS, she lost most everything in her home. They got about 3-4 feet inside. She like others didnt purchase ins because they werent required to. About 5-6 years ago, when yall had a big rain/storm, their street flooded and they didnt think anything of it, despite their house only being about 4-5 higher than street level.
2
Posted on 8/30/16 at 2:05 pm to NYCAuburn
quote:
She like others didnt purchase ins because they werent required to. About 5-6 years ago, when yall had a big rain/storm, their street flooded and they didnt think anything of it, despite their house only being about 4-5 higher than street level.
exactly. i know 2 people that did get FI after that same storm you speak of.
cost them couple hundred a year.
Posted on 8/30/16 at 2:10 pm to NYCAuburn
You missed the first part of my post. I don't know the op nor what kind of situation he is in. Personally I have flood ins. I'm not a risk taker. As you said it's not that much money for most people. I was simply stating to the other poster that this type of event does not happen regularly. Lots of people flooded that never thought they would and might not ever flood again. It's not like these parts of Louisiana are below sea level. This was a very rare event, once in a life time I hope.
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