Homeowners across the country say they are drowning in unnecessary flood insurance bills -- due to errors in the Federal Emergency Management Agency's redesigned flood maps.
In 2012, FEMA began updating its outdated paper inventory of maps with new digital ones. Millions of homes ended up in newly drawn high-risk flood zones, including houses built on high ground and away from water. As a result, homeowners with mortgages from federally regulated or insured lenders within these high-risk zones were required by law to carry additional flood insurance.
San Diego resident Laura Clemons is just one of thousands of homeowners who got the surprising news last year, when she was told that her home, on top of a hill, had suddenly moved into a high-risk flood zone.
"I got a letter from my mortgage company, telling me I was going to have to pay flood insurance, which was a joke because I live across the street from a canyon," Clemons said. "They gave us three months to notify them or they were going to start charging me $2,000 a year."
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2 comments:
I paid cash for my waterfront homes...no flood or hazard ins. F them all. It's a scam for people that have mortgages.
The Somerset Flood maps make no sense when compared to Worcester and Dorchester which have reduced acreage in the floodplain while Somerset's flood zone allocations have increased. This needs to be investigated.
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