All I can say is WOW!!
An eye - opener in mortages, insurance, news reporting and other areas
mentioned. Thankfully your mother is holding off until after the storm.
If she hasn't thanked you yet, believe me she will, even if storms
misses her proposed house.
Thanks for your imput! Be safe.
Gerri Bradford
Records Retention Manager
Nu Skin Enterprises, Inc.
75 West Center
Provo, UT 84601
-----Original Message-----
From: Records Management Program [mailto:[log in to unmask]] On
Behalf Of Carolyn Trim
Sent: Tuesday, September 20, 2005 7:22 AM
To: [log in to unmask]
Subject: Re: Was Re: Vacuum packed records - Sensible? / now flooding
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
[log in to unmask]
Phone (228) 865-4121 Fax (228) 865-4140
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Contact [log in to unmask] for assistance
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