I live in upstate NY…..we lost our home in a flood……we had homeowners insurance…..but no flood insurance since we were not considered to be in a flood zone…..we had no mortgage……so we can not recover that way….and it was not our primary residence……we rented the house out…..so they say we can’t recover that way either…..we now have a 10 year payment of $675.00 going toward absolutly nothing at all…..I may as well light a match to the money……are there any ways that anyone knows of to recover…..I have alredy talked to FEMA…..no help at all…..and local government agencies…..no help there either….shocking…..if anyone knows of anything to get out of these payments for nothing please help….thanks
we took a mortgage out on our own home to buy the other home outright…..so the $675.00 goes for that….as for flood insurance….I hear ya….but when you tell your insurance agent to give you all the insurance you need you assume that they will take care of it since they represent you……but they don’t ever tell you about flood insurance….and I did not know it was seperate…..seems to be the case with most people I have spoken to
Does Anyone Know of Any Type of Recovery for a Home Owner that Lost a House in a Flood…not LA?
Wed, Nov 25, 2009
2 Responses to “Does Anyone Know of Any Type of Recovery for a Home Owner that Lost a House in a Flood…not LA?”
Leave a Reply
November 25th, 2009 at 1:36 am
No flood insurance, no help. You could try appealing to the public goodwill through your local news agency. If you are financialy sound that will probably not work though. You said there was no mortgage on the home, so I curious what $675.00 is going for? I would cut your losses and sell the property. Next time make the small investment in flood insurance!
November 25th, 2009 at 1:54 am
Every home owner’s policy I have seen specifically outlines that the policy does not cover floods, and there is alot of language about water/rain damage that the policy will not cover. Floods and earthquakes are a separate policy.
You could stop making payments and allow the bank to foreclose, but that will tarnish your credit and effect you in a host of other ways for years.
I don’t know why this is shocking, you are responsible, not the government (or essentially every tax payer).