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Flood
Compliance & NFIP
The Law
Maintaining
flood compliance has never been more necessary. Federal Law mandates
flood compliance on all real estate loans. Regulations hold mortgage
service providers responsible for ongoing compliance on all loans.
So where do you turn? At TaxChek we make the flood determination
process smooth and efficient. Since we're not an insurance
entity seeking leads from your determinations, we're free
of any conflict of interest. We provide objective information
from a single certification, to an entire portfolio analysis.
For more information, visit FEMA's
home page at: www.fema.gov
National Flood Insurance Program (NFIP)
The NFIP is a Federal program enabling
property owners in participating communities to purchase insurance
protection against losses from flooding. This insurance is designed
to provide an insurance alternative to disaster assistance to
meet the escalating costs of repairing damage to buildings and
their contents caused by floods. Participation in the NFIP is
based on an agreement between local communities and the Federal
Government that states if a community will adopt and enforce
a floodplain management ordinance to reduce future flood risks
to new construction in Special Flood Hazard Areas, the Federal
Government will make flood insurance available within the community
as a financial protection against flood losses.
For more information on the National
Flood Insurance Program (NFIP), visit:
www.fema.gov/nfip/qanda.htm
Tracking
Our system
is designed to track a portfolio and alerts us of any changes.
We will promptly notify you of any change in the SFHA (Special
Flood Hazard Area).
Get a Printable (PDF) version of
Elevation Disclosure form here. You will need Adobe
Acrobat or similar program to read or print it.
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