My understanding is that if FEMA buys the house because of issues like this, that the land becomes useless and no one can build a permanent structure. Can someone verify?
They will place you in the Severe Repetitive loss program which then qualifies you for grants to raise your home. Up to 75% of cost. ( and if State kicks in, usually 15% - its 90% ) and the average rate around 2009-11 was close to $100,000...of which 90k was pad for thru state/federal funds.
That was an average cost- obviously different from home to home.