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Elevation Certificate for Flood Purposes

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Does a bank have the right to require an elevation certificate for flood purposes from the consumer?

I'm not sure why? An elevation certificate might be necessary in order for the flood insurance company and FEMA to properly rate the policy, but I am not sure what a bank would ever use it for.

First published on 6/10/13

First published on 06/10/2013

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Filed under lending as: 

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