Five federal financial agencies this week finalized a rule requiring lenders to escrow flood insurance premiums for homes in flood zones, and exempting homeowners from a requirement to buy flood insurance for detached structures. Highlights of the agencies’ action: Banks and mortgage servicers must escrow for flood insurance premiums on mortgages made, increased, extended or…Read more
Am I in a Flood Zone?
I get this question all the time and without evening speaking to you the answer is “YES”. Every home is located in a Flood zone it’s just some zones are at a higher risk than others. Flood damage is the number 1 catastrophe in the nation yet very few homeowners purchase Flood insurance. Why? I…Read more