Flood Insurance Question(Raymond?)

[toodeep]

south of the intercoastal in lafourche they are estimating as high as 20000 a year for flood insurance. i want to know what the banking industry will do with 1 to 2 million homes across south louisiana foreclosed because i know i can not afford that.

[swamp snorkler]

Originally Posted by toodeep

south of the intercoastal in lafourche they are estimating as high as 20000 a year for flood insurance. i want to know what the banking industry will do with 1 to 2 million homes across south louisiana foreclosed because i know i can not afford that.


I don't think it 1 to 2 million probably closer to 100,000 to 200,000, but 100,000 to 200,000 homes valued at an average of $100,000 to $500,000 is quite a chunk of change when the bank is just sitting on it.

Too Deep you bring up a good point. I live just north of 90. When I built 9 years ago the flood line was at my neighbors house and passed though his garage. Since the lines have been redrawn it moved about a 1/4 mile closer to Bayou Lafourche.

In Bayou Gauche (St. Charles Parish) they have some $300,000 homes that will be worthless if they have to pay the projected $20,000 yearly cost of Flood Insurance which after having a few community meetings FEMA is telling them.


Right now I'm paying more for flood than I do homeowners. All of these levess that the COE is building is simple dissapating water from the Democrats in NOLA to the Bayou Communities. Never before have you seen LaPlace flood. Pretty soon once these levees are complete all the water in Lake Savador will be pushed up though Gheens and flood all of the 308 side of Raceland.

Makes me sick, I'm 7' above sea level and 20 miles inland if I flood you can whipe Lafourche Parish south of HWY 90 off the map.