Re Flood Insurance in a Flood zone
I have a friend who is almost 90 years old . He had a reverse mortgage
For some years (I don't understand it well) and now he pays taxes and
Bills, etc. Our section of Brooklyn, NY got hit by Sandy, at least those
Of us on either ends of the area but where he lives he's safe from any
Of those inlets that caused the flooding... yet, he knows he is at some
Point going tohave to pay flood insurance.
I heard terrible rumors that the cost for flood insurance will be in the
Thousands... he doesn't have that... he's on food stamps. Do you
Know what to expect re flood insurance?