Give your bank the power over you to force you to pay Flood Insurance Premiums, and they apparently will.
Whether you need it or not.
Whether you live in a flood plain or high and dry.
Whether you are like the wise person of the well-known Parable who built your house on rock so that it stood fast when the storm and the floods came, or whether you are like the foolilsh person in that same Parable and you built your house on sand so that when the storm and the floods came, your house fell.
"And what a fall that was."
The lesson appears to be to respond right away to the Mortgagee Bank's demand letter for you or your clients to obtain Flood Insurance, or the Bank may force you buy it and send you the bill.
Regardless of whether your house is built on rock or on sand.
P.S. This lesson applies whenver you give your bank the power to force you to buy any type of Insurance.
See also the post here on Monday, March 28, 2011.
Please Read The Disclaimer.