[StBernard] Questions for Craig

[Westley Annis]

Laurie,

Get estimates on the repair work.  These estimates are going to tell you if
you are over the 50% damage mark or not.  It is extremely important to have
a detailed estimate if it is between 40%-60% of the market value
pre-Katrina.

If you stay under 50% you do not need to raise your home, you will be able
to buy flood insurance, and be grand-fathered in.  Also, as long as you
maintain your flood coverage, if you sell the house you can transfer your
policy to the buyers and they will also be grand-fathered in.

As for getting a loan from a mortgage company, I can't answer that and I
doubt anyone else can either.

Westley

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


Craig and Everyone,

I am so happy and elated and joyous!! My house in Lexington Place on
Bradbury has finally been gutted!  No one called before hand so I wasn't
there to help or bring food and drinks like I wanted to be. The other
damaged house is still in the street and my trash is nowhere to be found. 
But I am extreamly grateful to whatever group gutted my house. I feel so
much better.  My questions are:  with the FEMA maps that have come out it
says our houses need to be raised 3 feet above grade.  What is grade?  I
don't know what flood zone I am in, A,B, or whatever other zone there is.  
My house was built around 1984.  It is a slab house, two story that had
water upstairs.  It was determined to be 30%-60% damaged by the parish.  
Estimates say it will cost $100,000 to raise.  We will not do that.  So, can
we be grandfathered in and leave our house where it is and just repair?  
Will we be able to buy flood insurance if we do that? If so, will it be a 
great increase in premium?   If we decide to sell our house, will the 
purchasers be able to buy flood insurance?  Will mortgage companies lend
money on these houses if they are not raised?  I have all this information
but I don't know what it means for me or what my options are.  I know it's a
lot of questions but one answer leads to another question.  Thanks for all
your help to me and everyone else.  Any help with these questions will be
appreciated.

Laurie