Flood Damage >> FEMA Maps

Are lenders required to escrow flood insurance payments? Yes. If a lender, its servicer, or a Federal Agency lender requires the escrow of taxes, insurance premiums, fees, or any other charges for a loan secured by improved residential real estate or mobile homes, it shall also require the escrow of all premiums and FEMA Maps fees for any flood insurance. 

This requirement applies to loans made, increased, extended, or renewed on or after October 1, 1996. Requiring lenders to escrow for flood insurance premiums improves FEMA Maps compliance with flood insurance requirements by ensuring that homeowners located in Special Flood Hazard Areas obtain and maintain flood insurance for the life of the loan. 

What if a borrower disagrees with his or her lender's determination that a property is in a flood zone? If a FEMA Maps lending institution is requiring the insurance to meet mandatory flood insurance purchase requirements, the property owners may not contest the requirement if the lending institution has established the requirements as a part of its own standard lending practices. 

However, if a lending institution is requiring the insurance to meet mandatory flood insurance purchase requirements, the property owner and lender may jointly request that FEMA Maps review the lending institution's determination. This request must be submitted within 45 days of the date the lending institution notified the property owner that a building or manufactured home is in the SFHA and flood insurance is required. 

In response, FEMA MAPS will issue a Letter of Determination Review (LODR). The LODR process should be used as a last resort. Before the FEMA Maps LODR process is engaged, the property owners should contact their lender and provide them with additional documentation to support their position. 

Some lenders reserve the right in their FEMA Maps loan documents to require the purchase of flood insurance regardless of the flood zone. Property owners may not contest the requirement to purchase flood insurance if the lending institution has established the requirement as a part of its own standard lending practice. 

What is the process and outcome of the LODR on the lender's determination? The LODR does not result in an amendment or revision to the NFIP map. It only upholds or FEMA Maps overturns the lender's determination. The LODR remains in effect until the NFIP map panel affecting the subject building or manufactured home is revised. 

The LODR process does not consider the elevation of the structure above the flood level. It considers only the location of the structure relative to the SFHA shown on the effective FIRM. FEMA Maps confirms the location of the structure on the FIRM by examining the data source used by the lender to make the determination. 

A fee must be submitted with all LODR requests. The fee payment may be in the form of a check or money order, in U.S. dollars, made payable to the "National Flood Insurance Program." 39. How many buildings or FEMA Maps locations (and their contents) may be insured on each policy? Only one building and its contents can be insured on a policy. 

However, the Dwelling Form of the Standard Flood Insurance Policy (SFIP) does provide FEMA Maps coverage for up to 10 percent of the policy amount for appurtenant detached garages. 40. What is the flood insurance policy term? Flood insurance coverage is available for a 1-year term. 41. Is there a minimum coverage requirement for a flood insurance policy? 

No, there is no minimum coverage requirement if FEMA Maps coverage is being purchased voluntarily. However, if coverage is being purchased as the result of a lender requirement(mandatory purchase requirement), the amount of flood insurance required must be at least equal to the lesser of (1) the outstanding principal balance of the loan.

The maximum amount available under the NFIP, or (3) the total insurable value of the property. Some FEMA Maps lenders reserve the right in their loan documents to require the purchase of flood insurance above the amount required by law. If so, they may require the amount of coverage to be as high as the building's replacement cost value. 

Property owners should consult with their insurance agent and FEMA Maps lender to determine the appropriate amount of insurance to purchase. This does not apply to the Group Flood Insurance Policy (GFIP). 42. Can an NFIP policy be rated based on the FIRM that was in effect when the building was constructed, even if a FIRM is revised? Yes. 

To recognize policyholders who built in compliance with the FIRM that was effective when the building was constructed, FEMA Maps the NFIP has "grandfather rules" that allow policies to be rated based on the FIRM that was in effect when the structure was built. Supporting documentation that confirms the flood zone and/or BFE information from the prior FIRM is required to grandfather the rating. 

NFIP "grandfather rules" do not apply to the low-cost Preferred Risk Policy (PRP). The FIRM in effect when the PRP is effective determines eligibility for the PRP. 43. If a building is substantially improved or FEMA Maps damaged, can the rating be grandfathered to a prior FIRM that was in effect when the building was originally constructed? No. 

If a building is substantially improved or damaged, the FIRM in effect at the time of improvement or FEMA Maps damage must be used for rating. 44. When a property's flood zone changes from a non–Special Flood Hazard Zone (SFHA) to an SFHA as a result of a FIRM update, can the property continue to be rated using the PRP? Yes. 

Because flood zone revisions on updated FIRMs have resulted in a financial challenge for many homeowners, FEMA Maps has implemented a measure that provides financial relief by delaying the applicability of the SFHA standard rating for 2 years. Buildings newly mapped into an SFHA by a map effective on or after October 1, 2008, are eligible for the PRP for 2 years beginning on January 1, 2011, or the map change effective date, whichever is later. 

The building must also meet the PRP loss history requirements. At the end of the extended PRP eligibility period, the policy would be renewed as a standard-rated policy, FEMA Maps and may be eligible for grandfathering on a standard-rated policy. 45.Are there grandfather rules to allow policyholders to maintain the current rating despite a map revision that places property in a higher-rated flood zone? Yes. 

To recognize policyholders who have built in compliance with the FIRM and or remained loyal customers of the NFIP by maintaining continuous coverage, FEMA Maps has "grandfather rules." These rules allow such policyholders to benefit in the rating for that building. 

For such buildings, FEMA Maps the insured would have the option of using the current rating criteria for that building or having the premium rate determined by using the BFE and/or flood zone on a previous FIRM that was in effect when the building was originally constructed (for those built in compliance)or when coverage was first obtained (for those with continuous coverage). This leads to cost savings to insured when the new map resulting from a map revision would result in a higher premium rate.

Odor Removal

In order to successfully remove smoke odor from your Fire Damage Odor Removal home there are a few things you could try. Hopefully this article will help these are just a few of the things that professionals try using common things around your home. Inside of your refrigerator you could take baking soda in an op  read more..

Recover Documents From Smoke Damage

Because refrigeration may cause the paste to lose its tack, keep it at room temperature. It is best to make small batches, since the paste does not usually keep for more than a week. A preservative can be added, Document restoration Recover Documents From Smoke Damage but these chemicals are toxic and not recommended.

Microwave Wheat   read more..

Trash Clean Up From The Nashville Flood

Nashville flooding, FEMA Disaster No. DR 1909 TN (Source: FEMA) Some contractors, in order to increase their payments under their debris removal contract, will collect ineligible debris, such as debris not located on the right-of-way, and haul it to the collection site for payment. This can happen a  read more..

Get Rid Of Trash From The Colorado Flood

In some cases, tree removal actions were either unnecessarily expensive or later found to be ineligible. In another case, state prisoners were used to help the elderly and disabled to get their debris out to curbside, and the cost of this assistance was disqualified. A review of 36 recent OIG audits  read more..

How To Dehumidify A Water Damaged Crawl Space

NYSERDA - Energy. Innovation. Solutions. Dehumidification Whole-House Dehumidification Systems Whole-House Dehumidification Systems tie into your existing ductwork and remove humidity without running a full air conditioner. Since they do not need to cool the air, Dehumidification How To Dehumidify A Water Damaged Crawl Space they use a lot less e  read more..

Earthquake Damage

This article is on the subject of Smoke Damage Earthquake Damage from an investigation on the education of dangerous defense techniques for water restoration companies. One important factor is to think about earthquake and earthquake caused dangers like fire and smoke. This article is concentrated on an earthquake and  read more..

How To Remove Dampness From A Crawl Space

Seasoned, properly used wood is a dependable building material. In properly designed houses that are well built and well maintained, decay causes little damage. Most damage can be avoided. Prevention is cheap; cure is sometimes costly. Cause of Damage. Crawl Space Drying How To Remove Dampness From A Crawl Space Wood decay is caused by minute p  read more..

Remove A Smoke Smell After A Fire

During the second pass, when all demolition had ceased, reconstruction of damaged areas of the building by the construction trades began. Meanwhile, the cleaners carried out a thorough washing and scrubbing of all areas, using cleaning materials designed for fire-damaged buildings. For nonporous sur  read more..

Emergency Window Board Up

The following procedures and guidelines have been developed by the Division of Capital Asset Management and Maintenance (DCAM) to assist other State Agencies (Agency) with their responsibility to properly secure buildings and structures that they no longer occupy. It is the responsibility of the Age  read more..

Sewage And Floodwaters Contains Bacteria

Sewage and floodwaters contains bacteria, fecal material, viruses and other hazardous microorganisms, which can cause disease. These "germs" can be transmitted by touching contaminated items or by tracking them into uncontaminated areas on shoes. Children and pets are especially vulnerable. Odors fr  read more..