All Forum Posts by: Barrett Bridgewater

@Robert Murphy once FEMA provides the "LOMA" the next step is to send it to the Leander and ask them to update their "Flood Determination Form." It's a simple Y/N are you in a flood zone? Once the lender responds back in writing, we generally go to the flood insurance brokers and also complete the rest of the process with the insurance carriers. In certain cases due to certain NFIP rules, the carrier will even issue pro-rated refunds back to the policy holder. Pretty neat!
@Ed O. this is not a widely known solution, but we aim to change that. Our work is to investigate the underlying assumption that the FEMA flood map is correct. For many properties we find the map isn’t accurate. FEMA recognizes that. That’s why they created a LOMA process, to remove buildings off the map, eliminate the lender mandate, and gain freedom of choice on flood insurance. 

Actually Flood Zone properties can be hidden deals with a "flood zone flip!" We find often that the structure is built above the floodplain. If so, then we can petition FEMA to remove it off the FEMA Flood Map. At that point the lender mandate gets dropped, and you can choose to cancel the flood insurance. We've helped a lot of people do this.

@Mike Wood @Consuela Adams there is a way to develop above the floodplain. If your foundation wall meets the ground at a point above the flood level, then your building qualifies to petition FEMA for removal off their flood map. At that point your lender mandate gets dropped, and you can chose to cancel your flood insurance. We've helped a lot of people do that