Quote:
Originally Posted by likwid
Yeah, if they're selling because of the new flood maps, they couldn't afford it in the first place.
It SHOULD have been a big deal back in June when it was announced. Insurance industry knew about it at the end of last year, but didn't know how the maps were being done.
Basically the grandfathering is all done, as it should be.
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Yup.
Going back to actuarial rates, no longer subsidized rates. This began post-Katrina, but took a while to get through.
If you can afford to live/build there, buy insurance, or don't, your choice. If it falls down, and you chose no insurance, don't ask the Feds to bail you out.
Novel approach, huh?