Case Study

Residential

NH Homeowner Relieved of Rising Flood Insurance Costs

Bedford, NH

Image of Residential property for NH Homeowner Relieved of Rising Flood Insurance Costs

Flood Insurance Mandates Removed

Solutions Found:

LOMA

Solutions Value: Flood Insurance Mandates Removed & Property Value Improved

NFE Solution: LOMA

A homeowner in Bedford, NH, had been struggling with rising flood insurance premiums nearing the point of doubling their mortgage payments. Seeking relief from this financial burden, they contacted their insurance agent, who recognized the need for specialized assistance and recommended NFE as a trusted partner.

We began by conducting a complimentary engineering review of the property, which involved a comprehensive assessment of the A-zone property to determine potential eligibility for a Letter of Map Amendment (LOMA) or other cost-saving solutions. Following a thorough review, NFE qualified the property for a LOMA.

Throughout the process, NFE worked closely with the insurance agent and the homeowner, providing valuable guidance and support, handling every step of the FEMA submission process, including FEMA's Requests for Information (RFI), and ensuring smooth application progress.

NFE's efforts yielded excellent results for the homeowner - who obtained a LOMA for their property, successfully removing the lender mandate for flood insurance. The solution provided relief from high insurance costs and improved the property's overall worth and marketability should the owner decide to sell in the future, offering peace of mind and allowing the homeowner to focus on other financial goals. The collaboration between the insurance agent, NFE, and the homeowner exemplifies how strategic and specialized solutions can alleviate financial stress and provide positive outcomes.

View Other Case Studies

Image of Multifamily property for Multifamily Property Removed from SFHA Prior to Renewal

$130K + in Added Property Value

Multifamily Property Removed from SFHA Prior to Renewal - La Porte, TX

Learn how NFE managed to obtain a LOMA approval within 48 hours of submission and helped a multifamily property in La Porte, TX avoid flood insurance renewal costs. NFE's commitment to exceptional customer service and ability to expedite projects proved to be a success.

Image of Multifamily property for Houston Multifamily Increases NOI by $33K

$33K NOI Increase

Houston Multifamily Increases NOI by $33K - Houston, TX

In total, NFE solutions resulted in $550,000 in added property value (assuming a 6% CAP Rate) and a $33,000 boost in NOI for a multifamily property on Bissonnet St in Houston, TX.

Image of Multifamily property for Refinance Requirement for Flood Insurance Avoided

Slashing Refinance Red Tape

Refinance Requirement for Flood Insurance Avoided - Boise, ID

Discover how a multifamily property owner in Dover, DE, eliminated the need for flood insurance coverage while maximizing their refinance. NFE’s engineering review helped the owners overcome restrictions while also increasing property value.