Flood Zone - Recalculate Existing Loans?

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Question:

When the new calculations for flood insurance went into effect in Sept, 2009, did that regulation require that lenders recalculate each existing loan in a flood zone?

Answer:

No, however it would be prudent to review the policies as they renew to ensure you have adequate coverage.

First published on BankersOnline.com 6/07/10