Abundance of caution – no flood insurance needed, right?

Answered by:

Question:

Is flood insurance required on property taken as an abundance of caution?

Answer:

Yes. If you are making a designated loan secured by property considered to be made under an abundance of caution, flood insurance is still required. There is no “abundance of caution” exemption.
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Learn more about Rebekah Leonard’s Flood 101 – Facts to Keep You Afloat in Deep Waters webinar.