We have a loan that we discovered a flood insurance deficiency in the amount of $400. The renewal notice for the policy just arrived and the deficiency will be cleared up at the time of paid renewal which is on 9/30/11. If we start the force place procedures tomorrow, the policy will renew befor the 46th day. Do we need to start the force place process for this small amount in the meantime?

If you have determined you are inadequately insured per the regulatory requirements then you should start your force placement procedures.