All Forum Posts by: Lisa Mallory

I've settled today with my family at a cozy and comfortable rental where we have power and water, and wanted to respond first to thank all of you for your responses -- I'm so grateful for the kind words and information.

I have confirmed what @Garrett Brown shared -- my best option is an SBA disaster loan with a lower than normal interest rate to pay off our mortgage and then I can also hope for / pursue with others a land buyback program for those of us who have floodplain property that FEMA won't reinsure. So much of the land was just taken by the river anyway -- it just re-routed itself and swallowed up most of the land on the riverside of the road.

I do have one more favor to ask -- if anyone has leads on an accountant that can jump in to help us file last year's taxes by late November, I would be grateful to hear -- I still need to get them done, and especially need them done in order to apply for the SBA loan by the December 2 deadline. Had a plan for a January completion, but need a new plan!

Thanks again,

@Garrett Brown

Our insurance company (State Farm) doesn't cover flood, so our flood insurance policy is through FEMA's NFIP (national flood insurance program). We got the maximum amount they allowed, which is about half of our mortgage.

Our STR was in Asheville, as are we. Sadly the property no longer exists; it was at 22 Riverbend Drive sitting on the Swannanoa River, and like all nine houses sitting on the river, it was swept away and floated down the river. Fortunately my family is safe, but I have a question for the forum if anyone has advice. Our mortgage was significantly higher than our flood insurance, and I don't know if we qualify to try to apply for FEMA or if there is other assistance, and if so, if we would apply as a business (we file it on our personal taxes as rental income). I need to do research once I get settled somewhere (our other house was heavily damaged by trees falling on it) but thought I'd ask this forum in the meantime.

I'm grateful for any advice that you have, and I hope everyone is safe.

Our STR was in Asheville, as are we. Sadly the property no longer exists; it was on Riverbend Drive sitting on the Swannanoa River, and like all nine houses sitting on the river, it was swept away and floated down the river. Fortunately my family is safe, but I have a question for the forum if anyone has advice. Our mortgage was significantly higher than our flood insurance, and I don't know if we qualify to try to apply for FEMA or if there is other assistance, and if so, if we would apply as a business (we file it on our personal taxes as rental income). I need to do research once I get settled somewhere (our other house was heavily damaged by trees falling on it) but thought I'd ask this forum in the meantime.

I'm grateful for any advice that you have, and I hope everyone is safe.