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What Will Happen To Those Beach Homes Destroyed By Sandy?

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What Will Happen To Those Beach Homes Destroyed By Sandy?

Postby Windsor » Thu Oct 12, 2017 5:21 am

I was going to buy a home near the beach a long time and was refused insurance because it was within 40 miles of a body of water. Do banks give those people mortgages because its a risky home? Why would FEMA give them money to rebuild if there is a strong chance the homes would be damaged again? ( I was watching New York news and saw that one of the govt officials said that whatever the insurance companies paid up to, FEMA would cover the rest)

Also how do insurance companies calculate how much your home is worth (if anything) to give you $$ for the damages?

How were new homes rebuilt after Katrina?
Windsor
 
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Joined: Fri Jan 31, 2014 2:27 pm

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