(uconnn)

Beachfront Site Keeps Washing Away? FEMA Calls Area “Low Risk,” OKs Condos

It’s no surprise that waterfront property can be particularly prone to flooding. From the disasters of Katrina, Ike, and Sandy to the more everyday risks, building next to the water means you run a risk of finding that water in your living room one day. [More]

Part of the family's burned-out home.

Couple Paying Mortgage On Fire-Ravaged Home Because FEMA Rules Won’t Let Them Rebuild

Last August, a family in California came home to find their house on fire. Five months later, they live in a rented house down the street while still paying their mortgage and flood insurance, but the house isn’t being rebuilt because there is no way they could afford to meet new FEMA flood zone standards. [More]

(Allstate)

Allstate Realizes It Should’ve Asked First, Pulls Image Of Sandy-Ravaged Home From Ad

Although Allstate originally maintained that it hadn’t done anything wrong by using the image of a home ravaged by Sandy in an ad without obtaining permission from the couple who owned it, the insurance company says it’ll pull the image of that house. Besides the fact that the couple had no idea their home was in the commercial —which touts Allstate’s great customer service — they say Allstate is low-balling them on their insurance claim. [More]

It’s Not In Banks’ Best Interest To Look Too Closely At New Flood Plain Maps

It’s Not In Banks’ Best Interest To Look Too Closely At New Flood Plain Maps

For the last few years, the folks at the Federal Emergency Management Agency have been issuing more accurate flood plain maps at the same time as the government has made a renewed push for mortgage lenders to help make sure homeowners who need flood insurance are actually purchasing it. But even though these new maps should be making it more clear to everyone whether or not one’s home is in a flood plain, the banks appear to be playing fast and loose with the rules in order to force customers into more expensive insurance policies. [More]

Help! Chase Suddenly Wants Me To Buy Tons Of Flood Insurance!

Help! Chase Suddenly Wants Me To Buy Tons Of Flood Insurance!

Reader Nate and his wife recently bought their dream home, which they admit is more modest than most people’s dream homes, for $60,000. During closing, they wrote in their offer “that if the home was found to be in a flood plane we withdrew our offer,” but were happy to find out that the house was, in fact, not in a flood plain. That is, until Chase, decided that their house was in a flood plain after all and is requiring $185,000 in flood insurance.

If You Live In A Flood Zone, Consider Flood Insurance

The Today Show

Wells Fargo Takes Over Policy, Decides House On Hill Is On A Flood Plain, Automatically Assesses And Withdraws Money For Flood Insurance

Wells Fargo Takes Over Policy, Decides House On Hill Is On A Flood Plain, Automatically Assesses And Withdraws Money For Flood Insurance

A reader asks: