FEMA funding for raising floodprone homes.

Is your home being flooded by every high tide storm event?  If you meet the following severe repetitive loss criteria, FEMA will provide 75% of the cost to raise, relocate or purchase your home. 

 The definition of severe repetitive loss as applied to this program was established in section 1361A of the National Flood Insurance Act, as amended, 42 U.S.C. 4102a. An SRL property is defined as a residential property that is covered under an NFIP flood insurance policy and:

 (a)  That has at least four NFIP claim payments (including building and contents) over $5,000 each, and the cumulative amount of such claims payments exceeds $20,000; or

(b)  For which at least two separate claims payments (building payments only) have been made with the cumulative amount of the building portion of such claims exceeding the market value of the building.

 For both (a) and (b) above, at least two of the referenced claims must have occurred within any ten-year period, and must be greater than 10 days apart.

 For more information about the FEMA SRL program follow this link  http://www.fema.gov/severe-repetitive-loss-program

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