[StBernard] Flood PlanProposal

[Westley Annis]

 Wendy,
 
1) What if you haven't owned the home for 10 years...i.e. you bought the
house in the last couple of years? Would you only pay for the time you owned
it?   
    The principle is for the  last ten years- that is the buy back part of
the bill, regardless of the time a person owned a home.

2)What if you had flood insurance at one time and then let it go during that
10 years? Would you only pay for the years you didn't have insurance? Would
you still have to pay for 10 years?
     The criteria is based on a mortgage not requiring flood insurance-  it
is a ten year buy back plan- I am not aware of credits for interim years
because if the mortgage required it, then there is an eligibility issue.

3) what kind of time frame are we looking at in haing this answered? People
are looking to demolish/repair homes and need to determine their courses of
action
 
It is my understanding that Congress will take action in the next few weeks
at the outside.

4) Who is ultimately making this decision?

Congress and the White House
 
 
Good luck,
Craig