As more and more New Jersey residents who reside in coastal communities are discovering, they will be required to raise their home. For some it will be due to receiving a letter stating their property has been substantially damaged, others realize that a non FEMA compliant home (a BFE that is too low) hurts the
April 12, 2015 Asbury Park Press This photo is yet another home that was “dropped” while being lifted last week along the Jersey Shore.
The next storm heading for the Jersey Shore will begin to hit coastal homeowners today. This time it won’t come with rain and wind, but with new surcharges and rate increases that will appear on flood insurance bills. The Homeowner Flood Insurance Affordability Act of 2014, which goes into effect today, will include premium increases
In the aftermath of Hurricane Sandy, many companies looked to make “easy” money representing they were a professional house lifting company when they, in fact, were not.
Sample of savings for home at Base Flood Elevation as opposed to 4 feet below Base Flood Elevation. GFH New Letter January 2014 PDF
More than one-third of New Jersey flood insurance policyholders, including many still recovering from Hurricane Sandy, will be affected by sweeping changes to the federal flood insurance program to take effect Tuesday. Coastal homeowners in for insurance shock
The 2012 NFIP reforms will result in premium increases across the nation. Some properties will be hit harder than others, as explained here. People rebuilding after Isaac and Sandy need to be aware of these changes, because they are making critical decisions about investing in flood-prone property and businesses. Understanding Flood Premiums Rising Dramatically
In order to protect New Jersey communities from future storms, Governor Christie today launched a $100 million grant program to assist homeowners elevate their homes. Targeted at homes in the nine counties hardest hit by Sandy, the Hazard Mitigation Grant Program (HMGP) Elevation Program provides up to $30,000 of reimbursement to eligible homeowners to elevate
FEMA will phase out its flood insurance subsidies over the next few years, but the funding may still be able to help flood-prone property owners. View Article
MIAMI — Sharp increases in federal flood insurance rates are distressing coastal homeowners from Hawaii to New England and are starting to hurt property values and housing sales in areas just beginning to recover from the recession, according to residents and legislators. View Article