How do I avoid the payment of Flood Insurance residental real estate, which is designated a flood zone. .
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You can’t… Unless your house is paid for. All lenders are protecting their investment by making you buy flood insurance if your home is in a flood zone. If you have a mortgage, they will require it.
Your only option is to petition FEMA to redesignate your area so that it is no longer in a flood zone. This is a difficult task though.
Kenneth is right, you would have to show that the elevation of your property is such that it would not flood in a given 200 year flood designation and you will be required to hire engineers to do elevation surveys and flow analysis of past water ways to show that it should not be included in the flood plain. FEMA seldom agrees with you. With what you would spend doing the required studies, survey and reports, you could pay for the 300+ cost for insurance per year for the rest of your life, you’d be better off buying calls on the insurance company if you think it will never flood and they will only profit from it.
Buena Suerte
Great post! This is a hot topic in Arizona too!
It was usually just a hyperlink text at the bottom of the screen, not an actual button. If I hadn’t scanned the screen carefully I might have racked up over $100 in “options” on just one leg of my trip.