Many homeowners forced to buy flood insurance
abc7news.com News Team,
SUNNYVALE, CA (KGO) -- If you have received a notice from your bank that your house is now part of a flood zone, you are not alone. Thousands of people are getting the same notices and many are pretty upset.
Many of these people have lived in their homes for decades and never had any reason for concern, but suddenly the government says they're in a flood zone, and like it or not, they have to start paying into a national flood insurance program.
They never had any problem with rising water in this neighborhood, so the 84-year-old was shocked to get a notice from Bank of America saying her house is now in a special flood hazard area and she must buy flood insurance.