When Totaled, an Un-totaled 2012 Congressional Research Report shows $5.5 billion surplus 12/31/11 and 6 months later, a $17.5 billion deficit. No way this can be correct.
Other reports indicate Insurance Companies (with “no risk”) were being paid from 33% to 66% commission and management fees by NFIP. BUT we can’t find a comprehensive financial overview of the Flood Insurance program.
Most everyone agrees that the NFIP should be actuarial, but how can we know, if there is no comprehensive overview?
Bill Price
They are using GPS and other tech. to re map everything.
But BW-12 sets up Requirement and Planning for 39″ Sea Level Rise
by 2100. This will reduce Bank Loans, raise ALL Insurance, make Septic Tanks, and infrastructure non compliant, and obsolete.
Bill Price
Should those in flood zones who currently have flood insurance be looking to unload their homes before the rate increases go into effect? Do realtors now have an obligation to advie (i.e., warn) prospective home buyers of the impending rate increases for flood insurance? Is there any way to estimate what a particular property’s new premuim will be when these rate increases go into effect?
I JUST REFINANCED MY HOME LAST YEAR TO HAVE MY PAYMENTS LOWERED ONLY TO FIND THIS YEAR, MY FLOOD INSURANCE WOULD RAISE MY HOUSE PAYMENT TO MORE THAN IT WAS BEFORE I REFINANCED IT. SO NOW I HAVE 2 CHOICES EITHER SELL MY HOME OR LET IT GO BACK TO THE BANK,AND MOVE IN TO A LOW COST HOUSING UNIT. IF I CAN FIND ONE AVAILABLE TO RENT.IT SURE IS NICE TO LIVE IN AMERICA JUST WISH I COULD AFFORD IT.
When Totaled, an Un-totaled 2012 Congressional Research Report shows $5.5 billion surplus 12/31/11 and 6 months later, a $17.5 billion deficit. No way this can be correct.
Other reports indicate Insurance Companies (with “no risk”) were being paid from 33% to 66% commission and management fees by NFIP. BUT we can’t find a comprehensive financial overview of the Flood Insurance program.
Most everyone agrees that the NFIP should be actuarial, but how can we know, if there is no comprehensive overview?
Bill Price
Why haven’t the cities used new tec and gps to create accurate elevation data. Accuracy and Army Corp of engineers are rarely in the same zone.
They are using GPS and other tech. to re map everything.
But BW-12 sets up Requirement and Planning for 39″ Sea Level Rise
by 2100. This will reduce Bank Loans, raise ALL Insurance, make Septic Tanks, and infrastructure non compliant, and obsolete.
Bill Price
Should those in flood zones who currently have flood insurance be looking to unload their homes before the rate increases go into effect? Do realtors now have an obligation to advie (i.e., warn) prospective home buyers of the impending rate increases for flood insurance? Is there any way to estimate what a particular property’s new premuim will be when these rate increases go into effect?
I JUST REFINANCED MY HOME LAST YEAR TO HAVE MY PAYMENTS LOWERED ONLY TO FIND THIS YEAR, MY FLOOD INSURANCE WOULD RAISE MY HOUSE PAYMENT TO MORE THAN IT WAS BEFORE I REFINANCED IT. SO NOW I HAVE 2 CHOICES EITHER SELL MY HOME OR LET IT GO BACK TO THE BANK,AND MOVE IN TO A LOW COST HOUSING UNIT. IF I CAN FIND ONE AVAILABLE TO RENT.IT SURE IS NICE TO LIVE IN AMERICA JUST WISH I COULD AFFORD IT.