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DOL Publishes Final Rules Regarding Funding Notice Prudential Form

DOL Publishes Final Rules Regarding Funding Notice Prudential Form

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so we've had a lot of uh our clients asking about uh the 50% rule put in place by FEMA this is something uh on any property in a flood plane in Florida there is a 50% rule meaning you can't remodel for more than 50% your structure value now don't uh misinterpret this as uh full value of the home if you have a $500,000 home and your lot is worth $400,000 you have a structure value of $100,000 that means that you can actually remodel or repair that home up to about $50,000 so there are some communities out here that have a five-year look back so you have to be very careful if you remodled your home 2 years ago and the hurricane hit and wiped out your main floor you may or may not be able to actually remodel that house they may force you to either raise it or tear down uh and rebuild so be careful on the 50% rule make sure you know all the rules make sure you know what your community uh rules are with the FEMA 50% Rule and again uh if you have questions please reac

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