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Federal Disaster Assistance for Flood Damage

If my home is flooded, won't federal disaster assistance pay for my damages?


Not necessarily. Federal disaster assistance typically comes in the form of a low interest loan to help cover flood damage, not compensation for your losses. Even then, those loans are only available if the president formally declares a disaster and must be repaid along with any existing mortgage.
 
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Last Updated: 
Fri, 09/26/2014 - 11:32