Tim,
I do have flood, -- have had it since bought home --even though I keep being
told "I don't need it". And now I have a possible Cat 3 heading our way? I
will keep my flood --thank you very much.
My mom was buying a new home this week and after all my lecturing, I found
out last night she was not buying flood. Her new hubby (which I dearly
love) said didn't think was part of package and not sure needed. I had talk
with her. She is now holding off both closings because of risks until TS
Rita is over with. I live in Houston and She lives off Matagorda Bay. Right
now both of us are in the target model. With the storm moving into the
gulf, it is too late to buy flood insurance on existing homes -- the 30 day
waiting period.
Not being in a flood zone and not having flood insurance is like holding a
lightening rod in a rain storm --sooner or later.... What is irking me now
are the people that built the 1.4 plus million dollar homes and bought the
250K flood insurance knowing full well they did not have full coverage. Now
they want full replacement coverage with our tax dollars. Argggggggggggg.
If the original lender did not keep the appropriate records informing the
borrower of the zone, their rights, coverage, etc. --it may be the lender
that ultimately pays the cost if the homeowner can prove negligence in the
sales process. And yes I have seen and am aware of many lenders that just
gloss over flood insurance -- why I don't know. They always think telling
the borrower about it is a big PIA--many lenders just don't get it -- it is
there to protect the homeowner --use it as a customer service selling point.
I have reviewed thousands of files and seen very poor documentation.
Only during a catastrophe, if the homeowner ever thought about what the
lender told them and had proof....because there are really good lenders and
bad lenders. The good ones make sure the borrowers understand everything.
Think about this one. All of the multimillion dollar condos that are gulf
or seaside exist in buildings that are not worth as much as the buyers are
paying for the view of the water. So the building owner can only get
250,000,000 for 100 units (hope I did decimal right) while if they have been
selling for 1.4 to 3.0 million each. But the max for each unit per the gov
is $250,000. So for years RE along the water has been selling at over
inflated prices waiting for a disaster -- all loses that would be paid for
by tax payers. No loss to building owner or RE seller -- money was already
in their pocket. (From Minnesota to Florida, each week lenders hold investor
classes for those who have money to buy the original building units and sell
to those who want the water views.) Sorry I know this is off records -- but
in a way not. It is the mortgage records and marketing records that I
review that allows me to see the good and the bad. The victim and those who
are angels to their customers. Also was speaking to someone last night that
has to deal with the insurance fraud claims after the floods.
Good luck to everyone on Round two of Gulf of Mexico Russian Roulette (sp?)
this week. Will it be a cat 3 4 or 5? Will Houston be on the wet or dry
side? Will Family be safe? I have two evacuation points chosen--Have begged
(grin) garage of my sister's new home in Austin. Will it hit New Orleans
again? I am not a gambling person... But would love to know Vegas odds.
Tim, as far as tornados -- I have lived through three. One picked up our
home in the country. One picked up my VW in the 70's and rattled it on a
hwy (by the grace of the supreme being I am here)and one I watched take out
a willow tree outside a front window during hurricane Alicia.
Problem with tornados --is the short warning time. With a Hurricane I have
a few days to decide if I am a toughie for a small one, or an idiot if I
stay for a large one. We left for Carla in the 60's --But I came back to
the small town of Port Lavaca where it hit. Visions of refrigerators
hanging from telephone lines are still active memories today as are the eggs
that were smashed against houses in the neighborhood. Never could figure
where the eggs came from. Carla was a Cat 5. I saw grown men crying and
saying never again would they stay.
I read something the yesterday that Carla was the last storm before the news
media started making recordings of the disaster so the nation could see.
That it broke Dan Rather's heart he was in Galveston not Port Lavaca. The
article said that because the news media could not provide a record of the
storm and were not onsite at the time --they did not think if it as
devastating as it could have been -- how odd that now a TV camera is what
the media believes that is what makes devastation. I remember houses being
gone, flood waters, a few missing.
But even now, is dead dead only if the media reports it? Don't think so.
Think the writer was very short sighted. I will close my oped for today. :
) Must make sure I have everything on my hurricane list and evacuation
list!
Carolyn Trim
Houston
-----Original Message-----
From: Records Management Program [mailto:[log in to unmask]] On Behalf
Of Tim Barnard
Sent: Tuesday, September 13, 2005 4:05 PM
To: [log in to unmask]
Subject: Was Re: Vacuum packed records - Sensible? / now flooding
"With the new models even my own home would be a victim of tidal surge
because of the rain that would already be there. I am not in a flood zone
and am on a little hill."
Carolyn,
I was talking with one of the volunteers earlier today. Apparently not
being in a flood zone is not enough reason to not have flood insurance. One
of our other offices is next to a small bayou. It didn't get flooded from
the bayou, but someone left a water faucet on and the inside got water from
that!
We don't (yet) have flood insurance, and fortunately the tidal surge didn't
get that far (two houses and a wooded lot below me are okay but nothing any
farther), but I'm going to talk to my agent about getting some! I suggest
you do the same.
Kansas is looking better every day. I'd rather deal with a tornado.
Tim Barnard, Records Management Clerk
Harrison County, Mississippi
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Phone (228) 865-4121 Fax (228) 865-4140
List archives at http://lists.ufl.edu/archives/recmgmt-l.html
Contact [log in to unmask] for assistance
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