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  • Form Rd 3550 6

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Form RD 3550-6 Rev. 8-00 Form Approved OMB No. 0575-0172 UNITED STATES DEPARTMENT OF AGRICULTURE RURAL HOUSING SERVICE NOTICE OF SPECIAL FLOOD HAZARDS FLOOD INSURANCE PURCHASE REQUIREMENTS AND AVAILABILITY OF FEDERAL DISASTER RELIEF ASSISTANCE Mailing Address Date Re Property Address Applicant s or Borrower s Name Loan I.

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Flood insurance will be required if the home equity loan is secured by a building or mobile home located, or to be located, in an Special Flood Hazard Area (SFHA) in which flood insurance is available under the National Flood Insurance Act.

Generally, physical damage to your building or personal property “directly” caused by a flood is covered by your flood insurance policy. For example, damages caused by a sewer backup are covered if the backup is a direct result of flooding.

Elevation and distance-to-water are probably the two strongest premium factors in flood insurance.

The minimum amount of flood insurance required must be at least equal to the lesser of the outstanding principal balance of the loan, the maximum amount available under the NFIP for the type of structure, or the insurable value of the property.

(6) A statement whether Federal disaster relief assistance may be available in the event of damage to the building or mobile home caused by flooding in a Federally declared disaster.

Objectives of the FDPA: Provide flood insurance to owners of improved real estate located in SFHAs of communities participating in the NFIP. Require communities to enact measures designed to reduce or avoid future flood losses as a condition for making federally subsidized flood insurance available.

The national bank or Federal savings association shall provide the notice required by paragraph (a) of this section to the borrower within a reasonable time before the completion of the transaction, and to the servicer as promptly as practicable after the bank or savings association provides notice to the borrower and ...

FEMA is required to review a community's flood maps every five years. The agency must then decide whether to update or change them. FEMA must also tell Congress every month about any planned changes to community flood maps.

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Keywords relevant to Form Rd 3550 6

  • OMB
  • 30-year
  • 1995
  • III
  • borrower
  • lender
  • participates
  • federally
  • jointly
  • premiums
  • certify
  • acknowledgment
  • incurred
  • Availability
  • Applicant
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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232