Flood Insurance notification - Loan renewal

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.