Posted By: Tessie
Flood Insurance notification - Loan renewal - 06/25/18 08:19 PM
We have a loan coming up with a balloon payment. We have to send out a flood notification if extending or renewing a loan - correct?
What is the notification that we need to send out?
Posted By: rlcarey
Re: Flood Insurance notification - Loan renewal - 06/25/18 09:08 PM
Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance
The same one as you do when making a new loan
Posted By: Tessie
Re: Flood Insurance notification - Loan renewal - 06/26/18 01:40 PM
So we can give him a copy of the one we used when we did the loan five years ago?
Posted By: rlcarey
Re: Flood Insurance notification - Loan renewal - 06/26/18 01:42 PM
If you have validated that the flood maps have not changed - sure.