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Thread: Don't depend on government to bail you out

  1. #11
    Senior Member flowerseverywhere's Avatar
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    Quote Originally Posted by Williamsmith View Post
    Just got a text from son. The home owners insurance company that the bank assigned when the mortgage went through six weeks ago.....finally sent out a representative. I don't know if he was an actual employee or an independent contractor hired by the company but after a quick look see, he said, "Yeah, we won't be able to help you out much. Good luck."
    really sorry to hear this.

  2. #12
    Senior Member Williamsmith's Avatar
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    Quote Originally Posted by dmc View Post
    i would think that the bank would be involved to make sure the insurance took care of things. They have a vested interest in the property. It sounds like they had flood damage, did they not have flood insurance?
    No flood insurance. Never had any flood in history at this location. 50 inches of rain is a once in five centuries event. It's hard for me to tell him this but I said there will be few challenges he and his wife will face the rest of their lives that will surpass this one...all they got to do is work together as a team. They had plans on hosting the entire family for Christmas.....that will still happen even if we have to sleep on the floor. He worked for a contractor , so he has the skills and he is very strong willed. From what I have read, the housing market hasn't missed a beat. They are building new homes like mad.

  3. #13
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    Once in 500 years might become once in 10 years if climate change is true as predicted.

  4. #14
    Senior Member Williamsmith's Avatar
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    Quote Originally Posted by Tammy View Post
    Once in 500 years might become once in 10 years if climate change is true as predicted.
    This is of course an idea that humanity has not come to terms with. But the average person by virtue of his or her perspective in place and education or lack thereof make it impossible to discern the "truth" about this without it becoming a political headache. What science do you believe and what politician or radio personality speaks the truth? The solutions so far require changes to national destinies. And governments are poised to use it to force adgendas on the general population.

    But all that aside, how does a father convince a son just starting out that he has made a mistake in location. An unspeakable tragedy like this makes it impossible to apply tough love. He gets my support and that includes making up shortfalls of cash when they arise. This makes it easier for him to rationalize remaining because he has a good job with plans for advancement in the future as does his wife. She has a sister living there also who was not flooded out. The rest of the nation is lagging behind Texas economic growth. Kids are flocking there. For once, I see it as a national problem more than personal one. The northeast can't compete and is losing its tax base and future.

  5. #15
    Senior Member dmc's Avatar
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    Sorry to hear he didn't have flood insurance. And it is tough to leave a good job unless you have something else to go to. My first job out of college was in Wyoming, and I don't think anyone would live there in the winter by choice.

    Maybe after he gets back on his feet he can look into purchasing some flood insurance just in case. The premium shouldn't be to high if he isn't in a flood plain and there have been no past claims on his house.

    If he can do most of the work himself hopefully he will have more sweat than equity in the repairs. I'll bet things will look much better next year.

    Im not leaving SW Florida, and I can live pretty much anywhere. But there will be some changes to the house, but nothing big.

  6. #16
    Senior Member gimmethesimplelife's Avatar
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    About geographic locations and thinking them through for potential natural disasters - this is not of the same level of drama, granted - but when I was in Nogales, Mexico this July (the time around my thread about being concerned of crossing the border under Trump) it had just dropped over two inches of rain on the Mexican side due to a monsoon storm. I had heard for years that Nogales, Mexico had a bad flooding problem every Summer but had never seen it up close and personal until now. Apparently this area that I like so much on the border - 4,000 ft in altitude and technically semi-arid steppe and not desert with all four seasons and what most of you would consider a "normal"growing season due to temps way below 32F for several months every year in the mornings ......has a flooding problem, though it's not so bad on the US side. They also have intense and heavy rain from the monsoon every year, on the order of a two inch storm, at least once if not twice a summer. Some years much more like a few years back when Nogales got 8" of rain from hurricane remnants and Phoenix didn't get so much as a drop.

    My point here is that even in Arizona - a place most would consider not vulnerable to natural disasters (other than forest fires), such still needs to be factored in to location decisions. Rob

  7. #17
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    I am surprised gimme is not pushing for universal income for those affected or other public funding.

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