Name:	Rooster -	Reply
Subject:	FEMA got me
Date:	4/30/2014 6:39:29 PM

Sitting at home minding my own business and received letter from lender stating due to new FEMA map of lake martin I am now required to carry flood insurance.  Ok, no big deal!  Purchase it now and cancel as soon as I get a Certificate of Elevation and exemption which i know I qualify for because my next door neighbor did.  Called a FEMA qualified insurance agency ( Allstate ) in Alex City and jumped thru a few hoops for them only to find out at the last moment they had to know what flood zone I was in previously.  Finally found out I have been in a flood zone since purchase in 03.  A hazard one at that.  Go figure!  That knocked me out of a preferred risk catagory, so these folks wanted to sell me a 50 k policy with a 5 k deductable for 630.  Thank you very much, sorry I wasted your time and mine.  Called my home owner's agency ( state farm ), was told I needed a COE before they would even talk to me.  Told them that if I had that already, I wouldn't need the flood insurance.  Finally, after 2 weeks of this crap, I called my lender and told them to go ahead and purchase the insurance for the balance of the mortgage.  I will cancel as soon as I get the exemption.  If my house floods, better hope there is room on the ARK for all of us.  

Name:	MAJ USA RET -	Reply
Subject:	FEMA got me
Date:	4/30/2014 8:01:36 PM (updated 4/30/2014 8:08:42 PM)

...smacks of insurance lobby to me. 

I live on one of the highest points in StillWaters... I'm probably in the flood plain.  LMAO

The TOP of the dam is at ~ 490. If your house is above 490... PLEASE tell me how you could EVER get flooded. If the water ever gets to 490, it will begin disassembling the dam… and THAT will precede VERY QUICKLY. The dam will cease to exist within hours.

Name:	GoneFishin -	Reply
Subject:	FEMA got me
Date:	4/30/2014 9:20:35 PM (updated 4/30/2014 9:36:56 PM)

First, the rates for flood insurance are NOT determined by any insurance company. Rather they are set by the government. The different insurance companies write the policy and receive a commission but the government is the underwriter. Here is a web site Floodsmart where you can enter your address and see your flood category set by the map and some indication of rates.

https://www.floodsmart.gov/floodsmart/pages/residential_coverage/policy_rates.jsp

Name:	Lifer -	Reply
Subject:	FEMA got me
Date:	4/30/2014 9:43:11 PM

Actually that is not correct. Martin did flood in 79 and water overflowed the damn on the west side. All gates were already open and it still went over with no damage to dam but it did wash away the bridge below. Since that time a concrete coffer dam has been added to the west side to prevent overflow again. Martin can leave her banks now by a couple of feet which is millions of gallons. To see the new portion just ride to the guard shack and look to the left. You can't miss it. Actually I am surprised it has taken this long for them to remap us.

Name:	mariah1 -	Reply
Subject:	FEMA got me
Date:	4/30/2014 9:55:38 PM

Lifer is right. I have been on two tours of the dam. She now has 21 gates. 

Name:	BamaKat -	Reply
Subject:	FEMA got me
Date:	5/1/2014 11:19:47 AM

They got me last year, received a letter from my mortgage company that I had to buy the coverage. Did any of you read the article a few weeks ago about this company in south Florida that hired an Ex FEMA guy & they have gotten Condo's on Gulf Shores, FL & all up the east coast out of the flood zone & had it approved by FEMA. Some of the condo's have gotten millions from FEMA from floods but they are zoned out of the flood zone now so their flood insurance is a small % of what it should be. This cost is passed on to the small homeowners like us to pick up the bill.

http://www.nbcnews.com/#/news/investigations/fbi-investigates-fema-flood-map-changes-after-nbc-news-report-n62906

Name:	Osms -	Reply
Subject:	FEMA didn't get you, mortgage company did.
Date:	5/1/2014 4:52:47 PM

We've been aware of this problem for lake folks for about three years and I've just gone through it so let me offer a few points for all.

Mortgage companies have used a new FEMA regulation to profit off of mortgagees for a few years now nationwide.  FEMA directed FannyMae and FreddieMac to make sure conforming mortgages had flood insurance if the dwelling was in a flood zone.  An enterprising mortgage industry has developed this requirement into a scam.  If you get a letter from your mortgage company requiring flood insurance, you can pretty well bet the letter is from a contracted company that handles the flood issue for the mortgage company.  These contracted companies are either owned by crooked insurance companies, or they are partnered.  Anyway, the letter typically gives you 45 days to buy flood insurance or they will buy it for you and will be added to your escrow.  They do not tell you that they are buying commercial flood insurance at a rate up to 10 times the cost of FEMA flood.  AND, even if you prove you're not in the flood zone, you can't get your premium money back from a commercial company, but you can if you buy FEMA flood insurance.

If you get the letter, go ahead and call a surveyor and get your Elevation Certificate, which the surveyor can provide within 24 hours.  I paid $230.  Take your Elevation Certificare to a reputable insurance agent who sells FEMA Flood.  Buy a one year policy, sent a copy to your mortgage company to get them off your back.  Then file for an exemption (LOMA) with FEMA-it's on their website.  You'll get the LOMA back in about 6 weeks, then take that to your insurance agent, and FEMA will give you a total refund.

It's a pain, but once you're done, it's a lifetime of no mo flood issues.

BTW, APCo and AL State FEMA office have decreed that the base flood elevation of Lake Martin is one foot above full pool (490') or 491' Martin Datum.  A letter is available from the FEMA state office.

What about the "new maps".  The contour interval lines of the new maps is 20 feet.  If the coutour line starts at 490' the next one is at 510' and most houses fall within that 20', however, the house only has to be above 491'-which you have to have a surveyor prove.

Last word is:  Buy FEMA flood temporarily, don't fall into the mortgage company scam..

Name:	Toni -	Reply
Subject:	FEMA didn't get you, mortgage company did.
Date:	5/2/2014 9:03:03 AM

One more comment - you will get a refund of FEMA flood insurance less the portion (period of time) that you needed it.  In other words, you won't get it 100% of your premium back - they'll pro-rate your refund.

Name:	Osms -	Reply
Subject:	FEMA didn't get you, mortgage company did.
Date:	5/2/2014 9:36:54 AM

Toni, I got back 100% of what I paid in, and I was told by the State flood guy that was the policy.  Maybe it has changed.  One thing may also be possible.  The homeowner has to buy FEMA Flood via a local agent and then that agent is paid back by FEMA and then the agent is refunding the homeowner.  The agent winds up holding the empty bag, because he gets nothing for his trouble, so maybe, maybe an agent held out part of the premium to recoup his costs.  Not accusing, just don't know.

Name:	Osms -	Reply
Subject:	FEMA didn't get you, mortgage company did.
Date:	5/2/2014 9:45:25 AM

One more thought.  You can buy FEMA Flook Ins w/o a Elevation Certificate and in that case you would be pro rated I think.

Name:	au67 -	Reply
Subject:	Question
Date:	5/3/2014 9:39:56 AM

How many homes on Lake Martin would you think are not above the 491' elevation? 

Name:	Toni -	Reply
Subject:	Question
Date:	5/3/2014 3:05:12 PM

Very few that I've seen...one or two I thought were really close but we were able to get a Site Elevation Certificate...