[StBernard] Demolition

[Westley Annis]

-----Original Message-----

"Richard Baker stated on the radio that the minimum offer on homes will be
60% of pre-Katrina value, will this apply to someone like myself, who has
recieved a flood insurance settlement? Every time that I have heard this
question asked of him, he doesn't answer the question, or maybe I ain't
smart enough to understand the answer?"

"Answer: The way I understand the process to work is this: PreKatrina Value
minus Current Mortgage Balance equals Your Equity.  You should receive at
least 60% of this value. The Baker Plan will be buying based off of
PreKatrina values, I don't think the structure being there or not will have
any bearing on the monies you are offered."

**QUESTION : Let's suppose we have a homeowner who has a mortgage paid out.
What will the payout to that homeowner if for example:

    His/her home is valued at: $125,000 and the home is paid out, prekatrina
value? No mortgage to pay and 1/2 of that paid out in Flood and Homeowners
($50,000). Do they take 60% of the home/property's value ($75,000) minus
what the flood and homeowners paid out ($50,000) for a lum sum payment
difference of $25,000 to homeowner? Taxfree?


QUESTION : How do they determine homes "razed to land" without inspection
about its value? Does Estopinal, etc. be able to figure out neighborhood
values as to its worth or a deed showing sq. footage at so much a foot?

Jer.