Why Flooding Probabilities Are Important for Mortgaged Properties
“Why are flooding probabilities so important for mortgaged properties?”
The U.S National Flood Insurance typically focuses on floodplains that have a 1 in 100-year probability of flooding. While this may not seem like a large probability, keep in mind that if you purchase a property with a 30-year mortgage then there will be a greater than 1 in 4 chance of a flood impacting it over its payback lifetime. This is Why Flooding Probabilities Are Important for Mortgaged Properties.