Mandatory Flood Insurance Surcharges Effective 4/1/2015

Flood WatersHere’s what is so sneaky about FEMA’s methods. If you are one of the millions of people whose flood premium is escrowed and paid by your mortgage company, you probably ignore stuff from FEMA. Right? Your mortgage company will handle it. – Yeah, right!

BIG MISTAKE! HUGE! That is exactly what FEMA expects you to do

Unless you PROVE the insured property is your PRIMARY RESIDENCE, your next renewal will be billed with an automatic $250 surcharge, and your mortgage company will automatically pay the new premium amount… then adjust your mortgage payment by $20/month to cover the increase.

Fema quote1

Make no mistake. This rule will affect you, regardless of your flood zone, unless you take preemptive action to complete, sign, and attach a copy of your drivers license to the FEMA renewal form.

To be exempt from the $250 surcharge, you must PROVE the property being insured is your primary residence.

You should be on the lookout for it about 30 days prior to renewal. Then MAIL or FAX the form and copy of your licence back to your insurance agent prior to renewal.

FEMA surcharges1

Signature 2022


About Joyce Albert

Why you need a Real Estate Consultant, not just another Agent… The difference between a real estate agent and a real estate consultant is the difference between someone who just wants to make a sale, and a professional who is willing to share with you their in-depth knowledge of the market in order to help you navigate one of the largest financial decisions of your lifetime. In my career as a real estate consultant, putting my clients first is the hallmark of my success. So if you are looking for a true professional to help you buy or sell a home in the Greater New Orleans Area, please contact me. I look forward to woing with you. Certified 203k Specialist I am a certified FHA-203k Specialist - a program designed to assist buyers wanting to purchase distressed properties (hurricane damaged, repos, short sales) that require repairs or major rehab. Accredidations -  Accredited Buyer Representative (ABR)  e-Certified  Short-Sale & Foreclosure Certified (SFR) Other Memberhips. . .  Louisiana Association of Realtors  New Orleans Metropolitan Assn of Realtors (NOMAR)  Gulf South Real Estate Information Network  National Assn of Realtors (NAR) of Realtors (NAR)  Real Estate Board of Accredited Buyer Consultants (REBAC)
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