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#1913011 - 04/09/14 04:27 PM Is Flood Insurance Required?
dac Offline
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Joined: Sep 2009
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The bank is doing a Commercial Mortgage on an equestrian facility on 62 acres. The property has two residential structures and is equipped with two outdoor arenas, a 24 stall barn, a 10 stall barn, and many turnouts. The property also has a large entrance barn and various outbuildings. The Search indicates that the property is in a flood zone and the property within 250 feet of the SFHA. Zone AE. The owners of the property have stated that they were never required to get flood insurance before and none of the structures are near water. What is the bank required to do?

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Flood Compliance
#1913030 - 04/09/14 04:48 PM Re: Is Flood Insurance Required? dac
TMatt87 Online
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TMatt87
Joined: May 2011
Posts: 1,935
Idaho
The Search indicates that the property is in a flood zone and the property within 250 feet of the SFHA.

Could you clarify? If any of the buildings are in the flood zone, then flood insurance is required.
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#1913080 - 04/09/14 06:12 PM Re: Is Flood Insurance Required? dac
RR Joker Offline
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The Swamp
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