THE FLOOD INSURANCE RIP-OFF
69PAYING TO BE PLAYED FOR OUR CASH
About a year age ago congress passed a bill, attached to that bill was an increase in the amount of money homeowners, pay for flood insurance.
There was no fanfare or warning; for home owners it was a total surprise that appeared with the monthly invoice for the mortgage payment. If you have, Escrow, payments then it showed in a raise in the amount of your mortgage payment that covers; TI, taxes and insurance.
After the huge insurance pay-outs for hurricane Katrina and other disasters, this might have been expected. But the stealthy way in which it was implemented lets you know that this is one of those closed door deals cooked up by the recipients, of the campaign largess, known as lobbyist money. And totally designed to help keep high CEO salaries and bonuses at levels; to which the benefactors of the bill have become accustom.
What a bout the homeowners who got sticker shock when they read there mortgage invoice?
Yea what about them? They really don’t matter, except for their votes. Ironically the homeowners gets it from both sides.
They pay through the nose for the ads the candidates buy with lobbyist, money; then they contribute to the campaigns of candidates thinking that they will relieve them of some of their economic burden to unscrupulous, corporations.
The truth about flood insurance is: if you have a mortgage the mortgage insurance collects a fee for handling your; flood insurance payment.
Why can’t the Federal government just collect this flood insurance money; through the IRS, or other government agency. Flood insurance is a Government, offered product. So why put a third party in the stream and impose an additional payment on the homeowner?
We are constantly forced to incur additional cost and fees; that are the by product of congressional duping. In other words these politicians run for office and deliver the voters and other citizens into the hands of the large corporations; in exchange for lobbyist money to feed their narcissistic, desires for fame and fortune.
What can be done? Now while the Senate is debating bank, regulation reform we need to introduce an amendment to have this rip-off plugged.
