[StBernard] Demolition

[Westley Annis]

Jer.,


The Baker Plan does not factor any insurance proceeds into the equation.  So
in your scenario the homeowner would receive the full $75,000.

As for determining values, my guess is that without a recent (within 5
years, which is the IRS standard I believe) appraisal, they will probably go
off of tax assessments.

Before anyone starts complaining about tax assessments being too low,
remember, you can't have it both ways.  Everyone wanted their assessments
low-balled so they would pay lower tax bills. Now you have the other side of
the coin.

Westley

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

**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.




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