Look Who’s Pushing Homeowners Off the Foreclosure Cliff

[Pachamama]

12. Our Mortgage Lender forces us to have flood insurance at $1600 a year

We live in a flood zone.....had a flood 7 yrs ago in which we we incurred so much damage the house had to be completely re-built. We elevated this house and built it so it is at least 3 feet above the highest ever recorded flood level. Has a solid concrete foundation with piers and footings and lateral support. Has the mandatory FEMA mandated flood openings (one square inch per every square foot of surface area for the foundation.) This house will survive everything except maybe a "Noah's Ark Event" ( and then we are all gone, including banks). But no matter that we built the house this way, we have to pay the insurance. Its ridiculous. But we have to. And yet Obamacare may be overturned by Supreme Court as being illegal to require mandated purchasing of healthcare? If it does, why am I mandated and required to buy this insurance?????

Oh yeah....because its the Banks health, not ours......