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Message
re: Harvey ***Catastrophic Flooding Event***
Posted on 8/29/17 at 3:57 pm to MorbidTheClown
Posted on 8/29/17 at 3:57 pm to MorbidTheClown
Lots of folk end up walking away from house, too far in the hole on debt owed on house combined with lack of funds to repair.
3
Posted on 8/29/17 at 3:57 pm to Paul Allen
Water from Addicks Reservoir flows into neighborhoods as floodwaters from Tropical Storm Harvey rise in Houston.
(David J. Phillip / Associated Press)
Posted on 8/29/17 at 3:58 pm to Chad504boy
quote:Bank repos it? What's the penalty for that besides wrecked credit? I've always wondered about this stuff
Lots of folk end up walking away from house
This post was edited on 8/29/17 at 3:59 pm
Posted on 8/29/17 at 3:58 pm to ihometiger
These Addicks pictures are just the beginning.
Posted on 8/29/17 at 3:59 pm to LSUDAN1
So my area in kingwood continues to be fricked. Not sure when I can get back to my apartment and hoping my niece doesn't get flooded. Super proud of her and her mother walking to the middle school to help out. I wish I could cross the damn bridge...
Posted on 8/29/17 at 3:59 pm to ihometiger
Any idea on if/when ascension parish will make a decision on school tomorrow? Think EBR will follow ascension decisions?
This post was edited on 8/29/17 at 4:00 pm
Posted on 8/29/17 at 3:59 pm to Uncle JackD
quote:
Bank repos it? What's the penalty for that besides wrecked credit? I've always wondered about this stuff
If you have it financed, insurance is often required I believe.
Posted on 8/29/17 at 4:00 pm to Uncle JackD
quote:
ank repos it? What's the penalty for that besides wrecked credit? I've always wondered about this stuff
A lot of people I know ended up selling for cheap to someone who's gonna flip the house.
Posted on 8/29/17 at 4:00 pm to tigerbandpiccolo
Slack,
How is your family holding up in Kelliwood?
How is your family holding up in Kelliwood?
Posted on 8/29/17 at 4:00 pm to ihometiger
Have a cousin who had an apartment in the area of Addicks. Not sure where exactly. They just evacuated this morning with water coming in. National Guard pulled him and 4 or 5 others out.
Posted on 8/29/17 at 4:01 pm to slackster
quote:
If you have it financed, insurance is often required I believe.
If you're in the 100 year floodplain it is. It isn't outside of it, and that's where the trouble starts in these tail end of the bell curve risks.
Posted on 8/29/17 at 4:01 pm to tigerbandpiccolo
quote:
Any idea on if/when ascension parish will make a decision on school tomorrow?
WAFB says ascension is already closed tomorrow.
Posted on 8/29/17 at 4:01 pm to slackster
quote:
If you have it financed, insurance is often required I believe.
they require homeowners but not always flood. Preferred flood zones, lots of loans don't require flood. The funniest part (insurance humor) is its the god damn big bank lobby industry that doesn't want to mandate flood insurance as a requirement because it messes with their closing numbers on what people can buy when you add a $400 policy, then they get stuck on repo's/foreclosures and lose their arse on these properties.
Posted on 8/29/17 at 4:02 pm to slackster
quote:
If you have it financed, insurance is often required I believe.
We've purchased 3 homes over 25 years. The first was NOT in a flood zone so we opted out. The next two WERE in a flood zone and because we had a mortgage, we were REQUIRED to buy insurance. Wen tfrom ~$300 to nearly $900 this past renewal. I do feel much better having it though.
Posted on 8/29/17 at 4:02 pm to Styxion
quote:But then your upside down still owing the bank an assload I'd think. Unless the house is near paid off.
A lot of people I know ended up selling for cheap to someone who's gonna flip the house.
Posted on 8/29/17 at 4:02 pm to tigerbandpiccolo
Wait... What's the weather going to be like in BR? Today is pretty nice.
Posted on 8/29/17 at 4:02 pm to ihometiger
I hope everyone is out of those homes.
Posted on 8/29/17 at 4:03 pm to dukke v
quote:
No worries for the U.S. mainland which is good.... Mexico is gonna get fricking slammed...... looks like nothing that is gonna do damage to this storm as far as strength.
Posted on 8/29/17 at 4:03 pm to Uncle JackD
quote:Nothing, NOTHING.
Does their homeowners insurance cover anything
SBA loans suck. They would have given me $17k. My total cost is about $90k.
Bank loans, wipe out the savings, pay for it as you fix it, Fix just enough to make it livable, etc.
About 30% of the people around here aren't back in I am told. There are a lot of FEMA trailers around here.
As I said earlier, these people have no idea what they are in for.
Only about 15% had flood insurance. I had $60k insurance. I took $30k out of my 401k.
Posted on 8/29/17 at 4:04 pm to c on z
quote:
I don't believe home insurance helps you for any natural disasters
It does. Wind damage, lightning, water damage from damage to your roof or windows, etc.
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