The Hilltop Home in a Flood Plain (Huh?!?) When a home appears on a Federal Emergency Management Agency (“FEMA”) map showing its “flood zone designation,” you might assume that the home was located in a flood plain — and subject to (very expensive) flood insurance. Unh-unh. It turns out that ALL Minnesota homes have been assigned a flood...Read More
Lawsuit: ‘Bank Overcharged for Flood Zone Determinations’ If you bought a home or refinanced with a Wells Fargo mortgage between August 30, 2011 and December 31, 2013, you may be entitled to a share of a class action suit against Wells Fargo. A very small share — like, $9.50 per claimant. The suit — formally...Read More
Not Knowing What You Don’t Know Sellers who aren’t in a flood plain and disclose that to prospective Buyers have no problem. Meanwhile, Sellers who are in a flood plain and disclose that are also typically fine: Buyers might not like the added insurance expense, but they see it as a trade-off for a coveted lake or river...Read More
