FREQUENTLY ASKED QUESTIONS
Flood insurance is required for all federally backed mortgages and/or home equity loans associated with structures within the FEMA designated floodplains. Property owners with structures located within the designated flood plains with a mortgage and/or home equity loan may receive a letter from the bank holding the loan stating flood insurance is required on these structures. Flood maps support the National Flood Insurance Program (NFIP) and flood insurance is to protect the lender. 99% of most mortgages are federally backed mortgages and if a structure is in the flood area – the owner will be required to get flood insurance by the lender.
Who is responsible for determining if a structure is in a flood area? When someone applies for a mortgage, there is a fee paid to get a flood determination. It will be done by determination companies – most are not local companies. They will use the maps. If you feel the determination is wrong, you may need to get a surveyor and apply for a Letter of Map Amendment (LOMA).
The township cannot override the mortgage company determination – please refer back to your lender, or contact a surveyor.
If you want to view the maps for your community: Go to the FEMA map service center and search under “Michigan”, “Leelanau County” and then select your community, and click ‘Search’.
LINK: https://msc.fema.gov/portal/advanceSearch Look at ‘Effective Products’ and ‘FIRM Panels’.