I was reading a Times article about redrawn flood plain maps and I couldn’t help but respond to it. How fortunate for the insurance and lending companies. I feel bad for those who already live in these areas that do not know they have properties in a flood plain.
Who is protecting them for losses on their properties? After all, who wants to buy a home in a flood plain?
I’m sure the likelihood of most of these so-called new flood plain properties to actually flood is remote. It’s more likely that the redraw protects only insurance companies who without regard, willfully renege on the promise to cover them.
The existing property owners and homeowners are hurt and hurt hard by diminished value. The property owners should be taken into consideration. Regardless, the county could better serve the public if they moved toward protecting them.
It just feels so wrong. Restitution for loss created by these companies is in order, wouldn’t you think?
Hopefully the affected property owners will organize a class action suit. It’s only fair.