With the amount of dumb 5hit we get taxed with daily, you'd think that the US gov would utilize some of it's "fluff" and at least get enough money to people to get their houses back to what they were. Can't run from a natural disaster and can barely help them when in need, but we are shelling out $40k+ a year to families on welfare that refuse to get a job. That's a terrible picture to look at.
I just left my daughters house that was flooded. An ajuster was there and I asked questions about the subject of FEMA assistance. He told me that if you live in a NO FLOOD zone and you don't have flood insurance then FEMA will look at you case and assist you up to $33K...it has nothing to do with you income. But if you live in a flood zone and have no insurance you are up a creeek. This is what he told me so take it with a grain of salt.......
Shameless plug for a family member's business. I'll send Turb some $$.
http://www.bgrealty.com/vacancies/
This is the way I read it after scrolling through FEMA questions and answer pages:
(1)-If you live in a no flood zone that doesn't require insurance you're property will be evaluated based off of square footage along with how devastating the flood was to your area.
(2)-The evaluation will determine what amount (up to max IHP of $33,000), which most people won't get the max.
(3)-The above statement is a FEMA Grant due to not being in a flood zone, therefore you are not required to pay it back like you do a loan and it's not taxable because there's actually no gain on the money granted.
(4)-If your housing re-construction costs exceed the FEMA Grant, you can utilize the low interest FEMA Loan program to bridge the construction costs short fall. This loan is low interest and repayable similar to school loans.
*People need to be extremely careful with this. They are utilizing this an easy way to "remodel" their gutted homes. You need to go back in with similar items. It's ok to upgrade a few things (flooring, counter tops, etc.) but don't try and remodel/redesign rooms or reroute plumbing to open up a bathroom. This is where you get your a55 in a pickle.
Good luck to all out there
The Louisiana Ragin' Cajuns soccer team and the UL Student-Athlete Advisory Committee are joining the Lafayette community in assisting neighbors impacted by the recent flooding in south Louisiana.
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