Barrington homeowners apply for federal aid to raise houses as way to lessen flood risk
By Christine Dunn, The Providence Journal, R.I. | |
McClatchy-Tribune Information Services |
The projects would lessen flood risk, and make the homes eligible for lower flood insurance rates. Flood insurance rates are continuing their gradual rise to full actuarial value under the National Flood Insurance Program, although
According to Town Planner
People are not eligible to apply as individuals for the grants, which are due by
That gives owners who want to remain in their homes the financial incentive to invest in projects to mitigate their risk. But the new law gives people more time to plan, and those who want to sell will find it easier to do so, according to
But attempting to conceal from a potential homebuyer the fact that one's home is in a high-risk flood zone is probably not going to be feasible, Arnold said. Floodplain maps are easily available online, and mortgage lenders will definitely not overlook them, she said.
On Twitter: @ProjoChris
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