So many people were effected from Sandy, and sadly still are! As terrible and destructive as the storm was, It wasn’t the initial storm damage that caused the most devastation for those who were in her path. No one was expecting the tragedy and real devastation that was to follow many months and years after.
Many people (myself included) who lost their homes from this storm had begun coming to terms with their loss and displacement as the clouds cleared and tide receded. Expecting this was only going to be a difficult, but, temporary situation. Especially for anyone like myself, with a mandatory flood insurance policy to cover us in these unfortunate events. We all accepted that having a waterfront property comes with certain risks of flooding (and so does our mortgage companies) which is why we were required to purchase a separate flood insurance policy. I personally never had a problem with being required to pay extra insurance for having the luxury to live waterfront.
Now that it has been over two years since the storm, you would think that at the very least rebuilding would be underway, if not complete. It isn’t! The flood Insurance policies which was held by and paid to (FEMA) were not exactly “going to pay”. There isn’t any other way to say it, since they haven’t actually given a legitimate or direct reason why they didn’t have to cover this.
They did step in and offer some funds for rental and living costs while people were “temporarily” displaced, but that was some time ago and limited. So, as time went by, and more time went by, some of the people just gave up, walked away from their homes. Some people used their own money to rebuild (hoping, and expecting to be reimbursed in the future). Than there were others that if they had the time, began the never-ending process of paperwork and filling to receive the funds to rebuild what they were rightfully entitled to.
There was a fund/grant that eventually came through (for anyone able to wait this long). So, funds did come through to rebuild and cover you for what you were already insured for. Now, there was one other thing that seems to be an issue. It wouldn’t be right to assume that everyone who had lost their home in the storm (meaning it was completely gone/inhabitable) would stop paying their mortgage. Even though it makes sense to me that if your home no longer exists, than there should be no reason to pay the mortgage. Especially, if you consider the actuality of the bank holding the mortgage on the house is the owner (NO)? You would think they would be fighting to get insurance to rebuild or make “their property” in which they hold the note restored to regain the mortgager payments. Well, not only did they not fight for their property, they continued to demand payments, charge interest, and threaten foreclosure for non-payment. Forget morals, ethics, and what should be considered illegal collection practices. There should be some legislature or bill that restricts these banks from even asking for payments from victims of a storm that NO HOUSE exists! What is even more disconcerting is the banks charging interest, applying delinquent reports to credit agencies, and proceeding to foreclose on these people.
It’s alright that the banks were bailed out back in 2008-2009 from their real estate disaster. But, it is not ok for someone who was paying their mortgage on time for 5, 6, or 10+ years to get a “temporary” hold until their house was rebuilt!
HYPOTHETICALLY IMAGINE THIS SCENARIO !
IF EVERYONE WITH A MORTGAGE ACROSS THE ENTIRE COUNTRY COLLECTIVELY DECIDED TO STOP PAYING? I MEAN – EVERYONE!!!!!!!!!
WONDER WHAT WOULD HAPPEN ? HAHA
I KNOW WHAT WOULD HAPPEN……. THEY WOULD HAVE NO CHOICE BUT TO MAKE A SOME KIND OF DEAL WITH US (THE MAJORITY) WITHOUT THE MAJORITY MAKING OUR PAYMENTS THE SYSTEM WOULD COLLAPSE IF THEY DIDNT WORK OUT A DEAL WITH US.
THEY MIGHT HAVE ALL THE WEALTH- BUT ONLY AS LONG AS THEY HAVE US PAYING AND WORKING FOR THEM >>>>>>> TOP 1% HAHA – THAT MEANS THEY ARE SEVERELY OUT NUMBERED ……..