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[quote=Anonymous]I am the treasure of a small condo in a flood zone near beach. The last 2-3 years our flood insurance premiums have been rising 18 percent a year. Will continue at that rate till fully risk rates. Called FEMA Risk 2.0 Also less and less companies will write policies in flood zones so costs rise but less and less companies will quote us so not much to do. With new reserve study requirements, Fannie Mae requirements, banks looking for fully funded reserve funds and skyrocketing insurance it will get ugly. A beach condo is mainly retirees, second home owners, investors or some people who could not afford a house. None want high common charges. Until my reserves are nearly empty no one wants higher common charges. [/quote]
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