Got Screwed by the LRA Today! (1 Viewer)

muzzy

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I got a letter from the LRA today informing me that I qualify for $0 in assistance from the LRA because I paid off my mortgage with my flood insurance $$$. So much for rebuilding my home in Lakeview...
 

jimwnola

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I got a letter from the LRA today informing me that I qualify for $0 in assistance from the LRA because I paid off my mortgage with my flood insurance $$$. So much for rebuilding my home in Lakeview...
Huh? Please elaborate. The LRA is now changing its rules daily, after telling people one thing for a whole year, having us plan around what they said, and then later find out we are to be screwed. So, I don't doubt it.

However, the last I heard, you were still suppose to be offered the cost of rebuilding minus what you got in insurance. Paying off your mortgage wasn't suppose to have anything to do with it. Details, please.

I am still waiting for a response from LRA. Of course, going by most people these days at this website, the LRA should be great because it is being administered by Democrats.
 
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muzzy

muzzy

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Huh? Please elaborate. The LRA is now changing its rules daily, after telling people one thing for a whole year, having us plan around what they said, and then later find out we are to be screwed. So, I don't doubt it.

However, the last I heard, you were still suppose to be offered the cost of rebuilding minus what you got in insurance. Paying off your mortgage wasn't suppose to have anything to do with it. Details, please.

I am still waiting for a response from LRA. Of course, going by most people these days at this website, the LRA should be great because it is being administered by Democrats.
I paid off my mortgage with the $230K in flood insurance $$$ I received. I did so after receiving a demand letter from my mortgage company. Having no mortgage is great, but to rebuild, I must now rely almost entirely on an SBA loan consisting of $40K contents (the max) and a measly $70K (out of $200K max) for structure. Anyone know a contractor who'd give me a quote of $200K+ that I could send to the SBA to request a significant increase?
 

Wombat

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Huh? Please elaborate. The LRA is now changing its rules daily, after telling people one thing for a whole year, having us plan around what they said, and then later find out we are to be screwed. So, I don't doubt it.

However, the last I heard, you were still suppose to be offered the cost of rebuilding minus what you got in insurance. Paying off your mortgage wasn't suppose to have anything to do with it. Details, please.

I am still waiting for a response from LRA. Of course, going by most people these days at this website, the LRA should be great because it is being administered by Democrats.
Repeat after me "it's Bush's fault." The local politicians have been absolved of all responsibility.
 

TPS

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>>Repeat after me "it's Bush's fault." The local politicians have been absolved of all responsibility.

Man, those sour grapes over this election are pretty strong huh? Seems like Inkspot47's game but he's been invisible.
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Sucks *** muzzy. We did the same thing. You probably had to prove your basis was much higher in order to get that money. In the end, you probably didn't make out too badly though. You got your loan paid off and own the land if it's saleable. I'm thinking we're going to end up in the same boat too. We submitted in such a way that the value of our house exceeded the insured amount and the amount we paid for it (was legitimate). We're still waiting to hear from our advisor. Anything less than $30k (plus other allowances we make) and the house is bulldozed. I'm already not going back to Metairie, but the ex will probably leave the state for good. We don't even qualify for SBA.

TPS
 

TPS

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btw, there's supposed to be a valid appeals process in the system. I don't know how good it is, but you can appeal the decision.

TPS
 

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