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Started By
Message
re: La Flood Recovery Funds - RESTORE
Posted on 4/3/17 at 3:32 pm to Bard
Posted on 4/3/17 at 3:32 pm to Bard
quote:
Either that's untrue or we fell through a crack. There has been no such requirement placed on us (we're still listed as outside the flood zone). Maybe you are thinking about when one takes the secured SBA loan?
It's not true. FEMA does have the flood insurance purchase requirement after a FEMA payout, but only if you are in a flood plain. (anything but X)
1
Posted on 4/3/17 at 3:38 pm to LSUFanHouston
quote:Again, it's not a "requirement" unless you want FEMA aid again for the same type of disaster.
FEMA does have the flood insurance purchase requirement after a FEMA payout, but only if you are in a flood plain. (anything but X)
quote:
Even without the NFIRA requirement, it is a wise decision to purchase flood insurance. But, because Federal law mandates the purchase of flood insurance as a condition of disaster funding, an applicant who does not comply with the NFIRA flood insurance obligation may become ineligible for future disaster assistance. It’s that important.
This post was edited on 4/3/17 at 3:40 pm
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