October 2015 Newsletter: Flood Insurance
BLIA member, Frank Shipp, told his personal story about flood insurance and his home at a recent Board meeting.
His lender told him his home was in a "flood plain" and flood insurance would be required. This began a time consuming and costly journey to have his home removed from the "flood plain."Just like public sewers, not having to pay National Flood Insurance Premiums may increase the marketability and buyer pool for your home. This is important regardless of whether you plan to sell or not. It protects your home value for the future. If you are thinking about selling your home in the Spring, refinancing or obtaining a home equity line of credit, be sure to plan ahead. Flood plain and insurance issues will take some time to address. Learn more here: https://www.floodsmart.gov/floodsmart/pages/about/nfip_overview.jsp