Sentences with phrase «special flood hazard areas»

Five federal regulatory agencies are issuing a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas.

These «special flood hazard areas» are re-evaluated over time, so it's best to check the Federal Emergency Management Agency's Flood Maps to determine whether your house would be considered at high risk of flooding.

In response to these developments, the US Federal Emergency Management Agency mapped out special flood hazard areas (SFHA), which are those that may experience flood or mudflow based on a number of factors, including erosion levels.

It found that 56 percent of owners living in a special flood hazard area don't take steps — besides purchasing basic flood insurance — to protect their property.

If your home is in a special flood hazard area, your lender will require you to carry flood insurance, which will add hundreds annually to your homeownership costs.

Federal Law requires all lenders investigate whether or not each home financed is in a special flood hazard area as defined by the Federal Emergency Management Agency (FEMA).

And if you live in a FEMA - designated special flood hazard area (SFHA), you'll also need to purchase flood insurance to qualify for a VA loan.

Federal law requires all lenders to investigate whether or not each home they finance is in a special flood hazard area as defined by the Federal Emergency Management Agency (FEMA).

If your property is located in a special flood hazard area, you will be required to carry flood insurance, as well.

Federal Law requires all lenders to investigate whether or not each home they finance is in a special flood hazard area as defined by FEMA, the Federal Emergency Management Agency.

If your home is in a special flood hazard area, your lender will require flood insurance.

Federal Law requires all lenders to investigate whether each home they finance is in a special flood hazard area as defined by FEMA, the Federal Emergency Management Agency.

If FEMA has recently remapped your home into a special flood hazard area, you may find cheaper coverage on the private market.

The survey must contain a certification as to whether the project is in a special flood hazard area.

If your home is located in a part of the flood plain known as a «special flood hazard area,» your chance of flooding is relatively high and you may be required to purchase flood coverage.

If you live in a special flood hazard area, you may be required to purchase flood insurance.

Not exact matches

The National Flood Insurance Act of 1968 requires all mortgages backed by Fannie Mae or Freddie Mac to have coverage if the property is located in an area with special flood hazards.

High Risk Areas: Within these, which are also known as Special Flood Hazard Areas (SFHAs), there's deemed to be a 25 percent chance of a residence being flooded within 30 years — which is the length of term for many mortgages.

If you live in a high - risk zone — called a Special Flood Hazard Area — and have a mortgage on your home, you're likely required to have flood insurance.

In fact, lenders must require borrowers whose property is located within a Special Flood Hazard Area (SFHA) to purchase flood insurance as a condition of receiving a federally regulated loan.

For homes in high - risk areas (e.g., Special Flood Hazard Areas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also requareas (e.g., Special Flood Hazard Areas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also requAreas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also required.

If the property is located in a high - risk area, called a Special Flood Hazard Area, and is under a mortgage, owners are likely required to get flood insuraarea, called a Special Flood Hazard Area, and is under a mortgage, owners are likely required to get flood insuraArea, and is under a mortgage, owners are likely required to get flood insurance.

This can be a concern in mountainous areas that receive heavy snowfall or in special flood hazard zones.

Participation in the NFIP is based on an agreement between local municipalities and the federal government, which states that if a community will adopt and enforce a floodplain management ordinance to reduce future flood risks to new construction in Special Flood Hazard Areas (SFHA), the federal government will make flood insurance available within the community as a financial protection against flood damage.

For homes in high - risk areas (Special Flood Hazard Areas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also requareas (Special Flood Hazard Areas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also requAreas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also required.

A: If your property is in an area that has been identified by FEMA as having special flood hazards, then you must maintain Flood Insurance in compliance with the Flood Disaster Act of 1973.

If the Flood Insurance Rate Map (FIRM) shows that a property is in a Special Flood Hazard Area, which includes all A-zones, flood insurance is required by law in order to get federally secured financing to buy, build, or improve structures on that property.

In the Town of Surfside Beach, SC, the purchase of flood insurance on a voluntary basis is wise even outside Special Flood Hazard Areas.

52 percent of residential and commercial properties in the Houston metro are at «High» or «Moderate» risk of flooding, but are not in a Special Flood Hazard Area (SFHA) as identified by the Federal Emergency Management Agency (FEMA).

The Flood Disaster Protection Act of 1973 made the purchase of flood insurance mandatory for the protection of property located in Special Flood Hazard Areas.