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Discussion Starter · #1 ·
I just checked into getting a loan to rebuild my home that was totally destroyed by Hurricane Ike. My home was very near the TOPWATER GRILL in San Leon and as most know that area know it is truly a disaster area.

Well of course FEMA says I don't qualify because I have flood insurance...but that will just about cover the loan on my home. They told me to check with the SBA....well guess what, because I have great credit...I get a loan for 8%, but if I were a roach and didn't pay my bills and was unworthy of credit....I could get it for 4%.

What is it about our "GUVment" that rewards people for not being responsible?
Oh yeah....I forgot .....it's about politics and getting votes!

You can check this out for yourself at

http://www.sba.gov/services/financialassistance/sbaloantopics/property/index.html

Yep.... I will be Voting in November!
 

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Roostor said:
I just checked into getting a loan to rebuild my home that was totally destroyed by Hurricane Ike. My home was very near the TOPWATER GRILL in San Leon and as most know that area know it is truly a disaster area.

Well of course FEMA says I don't qualify because I have flood insurance...but that will just about cover the loan on my home. They told me to check with the SBA....well guess what, because I have great credit...I get a loan for 8%, but if I were a roach and didn't pay my bills and was unworthy of credit....I could get it for 4%.

What is it about our "GUVment" that rewards people for not being responsible?
Oh yeah....I forgot .....it's about politics and getting votes!

You can check this out for yourself at

http://www.sba.gov/services/financialassistance/sbaloantopics/property/index.html

Yep.... I will be Voting in November!
Well, I am not sure you were given 100% acurate information. My mom who lives on Trinity Bay, was able to qualify for loan with perfect credit and makes 250k+ a year. She had/has flood insurance. I know she asked the fema rep if she had to use the loan on the actual house, and was told no, she could use it on what ever she wanted on the property including a new dock ect ect. You may want to work your way up the chain of command.

Either way good luck
 

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Roostor said:
Well of course FEMA says I don't qualify because I have flood insurance...but that will just about cover the loan on my home. They told me to check with the SBA....well guess what, because I have great credit...I get a loan for 8%, but if I were a roach and didn't pay my bills and was unworthy of credit....I could get it for 4%.

You can check this out for yourself at

http://www.sba.gov/services/financialassistance/sbaloantopics/property/index.html
I am wondering why they would send you to the Small Business Admin for a loan to build your home.
 

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The wife did the FEMA thing and she was told that we didnt qualify because we have insurance (and make too much $$$) , but we DID qualify for a small buisness loan... *** I dont own a buisness dont want a buisness at this point, so why would they even say something like that???????????????????
 

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Roostor said:
I just checked into getting a loan to rebuild my home that was totally destroyed by Hurricane Ike. My home was very near the TOPWATER GRILL in San Leon and as most know that area know it is truly a disaster area.

Well of course FEMA says I don't qualify because I have flood insurance...but that will just about cover the loan on my home. They told me to check with the SBA....well guess what, because I have great credit...I get a loan for 8%, but if I were a roach and didn't pay my bills and was unworthy of credit....I could get it for 4%.

What is it about our "GUVment" that rewards people for not being responsible?
Oh yeah....I forgot .....it's about politics and getting votes!

You can check this out for yourself at

http://www.sba.gov/services/financialassistance/sbaloantopics/property/index.html

Yep.... I will be Voting in November!
Yep..same here. I received the same multi form blue application as you. Not much help here either. :confused:
 

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Roostor said:
I just checked into getting a loan to rebuild my home that was totally destroyed by Hurricane Ike. My home was very near the TOPWATER GRILL in San Leon and as most know that area know it is truly a disaster area.

Well of course FEMA says I don't qualify because I have flood insurance...but that will just about cover the loan on my home. They told me to check with the SBA....well guess what, because I have great credit...I get a loan for 8%, but if I were a roach and didn't pay my bills and was unworthy of credit....I could get it for 4%.

What is it about our "GUVment" that rewards people for not being responsible?
Oh yeah....I forgot .....it's about politics and getting votes!

You can check this out for yourself at

http://www.sba.gov/services/financialassistance/sbaloantopics/property/index.html

Yep.... I will be Voting in November!
Maybe I don't understand but are you wanting Flood to pay off your loan on your home plus repairs?
 

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SBA has a disaster loan program. It is placed there as they are the only Fed agency that can make loans to individuals. SBA is basically begging people to apply as most think the way all of you are and therefore do not apply. You can get up to 200K and at 2.875% interest for up too 30 years.
 

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BigTOM said:
The wife did the FEMA thing and she was told that we didnt qualify because we have insurance (and make too much $$$) , but we DID qualify for a small buisness loan... *** I dont own a buisness dont want a buisness at this point, so why would they even say something like that???????????????????
Cash is cash right ?

If I was in need and nasa wanted to make me a " build the space shuttle" loan but said it was perfectly OK to rebuild my house with the money, well I'd be all over it. Especially if the interest rate was real attractive.

Never expect a governmental system to make sense.
 

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Discussion Starter · #9 ·
Bobby said:
Maybe I don't understand but are you wanting Flood to pay off your loan on your home plus repairs?
Bobby,
What I want is to be treated equally....the point of my post was that FEMA says they are going to help and yet when you apply....they tell you you don't qualify because you have insurance....(and if you don't have insurance they give you up to $28,800.00)

Then they tell you that you can borrow the money from the SBA....again though, if you meet the "test" (you have good credit and an income) you can borrow the money for 8%...but if you dont have good credit and no income...you can borrow it at 4%!

You tell me.....Does this all sound Fair and Equal?
I guess it does to those on the Left.
 
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