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Started By
Message
re: Trump wants to end federal flood insurance in flood prone areas
Posted on 10/5/17 at 9:09 pm to Toddy
Posted on 10/5/17 at 9:09 pm to Toddy
quote:
I'm in agreement with him on this. Why offer this when there is almost 100% certainty these areas will flood yet again in the not too distant future?
You don't realize just how close you are to wanting to end social welfare too, Toddy. Just peel that onion another layer or two, and you'll be there.
0
Posted on 10/5/17 at 9:12 pm to Toddy
quote:
which is $25 billion in debt thanks to ever-worsening storms.
Posted on 10/5/17 at 9:15 pm to Toddy
New homes built in flood plains have elevation benchmark requirements based on the FEMA established Base Flood Elevation (100 year flood). Just require that new construction be built at least 2 feet above that instead of blocking flood insurance entirely.
And require ALL properties with federally backed mortgages to carry flood insurance so the risk is spread out more evenly instead of being concentrated only in higher risk zones. Vast majority of the houses that flooded in BR area last year were located in flood zones where flood insurance wasnt required for their mortgage
And require ALL properties with federally backed mortgages to carry flood insurance so the risk is spread out more evenly instead of being concentrated only in higher risk zones. Vast majority of the houses that flooded in BR area last year were located in flood zones where flood insurance wasnt required for their mortgage
Posted on 10/5/17 at 9:20 pm to Tiger Prawn
quote:
Vast majority of the houses that flooded in BR area last year were located in flood zones where flood insurance wasnt required for their mortgage
Are you sure about that? I worked in the mortgage industry for years and every single mortgage on a home had to have flood insurance if it was in a flood zone. No exceptions.
Posted on 10/5/17 at 9:27 pm to La Place Mike
quote:
I worked in the mortgage industry for years and every single mortgage on a home had to have flood insurance if it was in a flood zone. No exceptions.
Same here. Never saw a loan get funded for a home in a flood plane without flood insurance.
Posted on 10/5/17 at 9:30 pm to Bunyan
quote:
WTF?!
It's a full moon tonight. All sorts of weird things happen during a full moon, including agreeing with Toddy on anything.
(I, too, agree with his view that it's time to stop subsidizing flood losses. Which means the Dems and the GOPe will NEVER vote for it, just like they didn't vote to stop subsidizing Amtrak.)
Posted on 10/5/17 at 9:30 pm to Toddy
damn toddy, you must've gotten a taste of some pussy
Posted on 10/5/17 at 9:36 pm to Toddy
If we can’t take the entire risk profile into account in the health insurance market, why can we take this entire risk profile into account in the flood insurance market?
Being born and raised on the coast is a preexisting condition. And don’t even start with this personal responsibility silliness.
Being born and raised on the coast is a preexisting condition. And don’t even start with this personal responsibility silliness.
This post was edited on 10/5/17 at 9:37 pm
Posted on 10/5/17 at 9:39 pm to Toddy
Just do what Obama would do and make it illegal for people not to have it and charge people in North Dakota quadruple premiums to subsidize people in Ycloskey.
Posted on 10/5/17 at 9:40 pm to AU86
quote:
Toddy has finally given in. He is a Trumpkin now.
His readjustment at the LBGTQ camps the God Emperor set up have done wonders.
This post was edited on 10/5/17 at 9:42 pm
Posted on 10/5/17 at 9:46 pm to Tiger Prawn
quote:
Vast majority of the houses that flooded in BR area last year were located in flood zones where flood insurance wasnt required for their mortgage
Did you mean to say "were NOT located in flood zones"?
Posted on 10/5/17 at 9:48 pm to Toddy
quote:
I'm in agreement with him on this.
Posted on 10/5/17 at 9:53 pm to Obtuse1
No. Everybody is in a flood zone, there’s just varying levels on risk.
B, C, and X are all flood zones but those are the low risk zones that aren’t typically required to carry flood insurance if they have a loan.
A and V zones are the ones where flood insurance is a requirement of the loan.
B, C, and X are all flood zones but those are the low risk zones that aren’t typically required to carry flood insurance if they have a loan.
A and V zones are the ones where flood insurance is a requirement of the loan.
Posted on 10/5/17 at 9:58 pm to La Place Mike
quote:
I worked in the mortgage industry for years and every single mortgage on a home had to have flood insurance if it was in a flood zone. No exceptions.
Because people in mortgage industry like to refer to only A and V zones as being “flood zones” and call the B, C, X zones “no flood zones”. In the insurance industry, everyone is in a flood zone. They just have varying risk levels.
B, C and X are just low risk zones that arent typically required to carry flood policy as loan condition...but that doesnt mean they arent in a flood zone. The fact that so many properties in BR area that flooded were in zones where they werent required to carry flood insurance with their mortgage is what I was alluding to in my first post
Posted on 10/5/17 at 10:07 pm to Tiger Prawn
quote:Just stop dude. You are wrong.
B, C and X are just low risk zones that arent typically required to carry flood policy as loan condition...but that doesnt mean they arent in a flood zone.
Posted on 10/5/17 at 10:11 pm to Toddy
You cannot agree with him, you are an one issue voter.
Posted on 10/5/17 at 10:13 pm to La Place Mike
I sell insurance for a living. I think i know what I’m talking about.
Don’t believe me? Look at the flood policy declaration page for someone who has flood insurance even though it wasnt required by their lender. The declaration page will still show “Flood zone: X” somewhere on it.
Everyone is in a flood zone. Some zones are high risk, some are low risk. Not all flood zones are required to have flood insurance for a federally backed loan.
Don’t believe me? Look at the flood policy declaration page for someone who has flood insurance even though it wasnt required by their lender. The declaration page will still show “Flood zone: X” somewhere on it.
Everyone is in a flood zone. Some zones are high risk, some are low risk. Not all flood zones are required to have flood insurance for a federally backed loan.
Posted on 10/5/17 at 10:15 pm to La Place Mike
He's actually correct. Every inch of US soil is in a flood zone. You can readily find the FEMA maps with a quick Google search. Even communities that don't participate in FEMA's NFIP are mapped, and zoned.
Posted on 10/5/17 at 10:30 pm to Chad504boy
quote:
Can't privatize flood
Huh???? You most certainly can
quote:
Private insurers aren't offering coverage on known flood risks, zero security in the future market
That's completely inaccurate, there are several companies that offer private flood.
While the market availability can certainly be a bit finicky, it's a viable option.
Posted on 10/5/17 at 10:45 pm to La Place Mike
Sorry Mike, you are wrong on this one. There are plenty of new neighborhoods that are being built in AE flood zones. But they get a LOMA due to supposedly building them above the flood plane, and the buyers are now not required to carry flood insurance.
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