How to Deal With Insurance After the Fire

Heart image I took last year in Boston's worst snow storm

How to Deal with Insurance After the Fires

California has a huge task of work ahead for us.

Homeowners who want to rebuild need to make 

claims and get planning. This is a list of some ideas

to keep in mind making a claim in the CAMPFIRE or

Woolsey Fire or any wild fire for that matter

You are entitled to assisted living expenses. That means your insurer can cut you a check often on the spot for expenses for expenses you've incurred from your mandatory evacuation. Keep copies of food bills, anything you bought even a soda.

It’s going to be hard to get new insurance and you may have to go to California Fair Plan which is not great. Make sure you add extended replacement cost endorsement. This is basically additional coverage intended to accommodate at least a portion of any unexpected cost increases.

You can also purchase additional coverage for code upgrades. For example, the rules might have changed for electrical systems or insulation since your house was built. Code-upgrade insurance protects you from so-called better-ments that your policy may not address.

Some policies don’t cover the foundation and plumbing, even if you have guaranteed replacement cost. The insurance company is required to settle in thirty days. Although they are human and out there making claims DO NOT assume they are going to help you make a total claim, they work for the company and shareholders. 

Rebuilding will be more costly than normal construction because there will be huge demand. Costs may run higher. Find out what Lowe’s are closing and buy at discount while they are closing stores. Think about using your settlement check and applying for FHA 203H which would allow 100% rebuild costs to add to the check. Call me if you need help with this (949) 784- 9699

Hopefully you have a video or photographs of your personal property, if not begin now and send to relatives who have visited to add to the list.  You won’t recall everything.

Make a complete list

Go room by room in a circle, mentally go through the drawers to recall what you owned

Electronics- televisions, old cell phones in desk, routers, the cable box that the cable company will charge you for (by the way turn off the cable now) printers, scanners, screens, and more.

Cords

Power sources

Cameras

Film

Photographs

Framed artwork

Framed photographs

Carpet, rugs

Furniture: style, fabric, size

Side tables

Lamps

Light fixtures

Tables

Chairs

Dishes

flatware

Pots pans

Kitchen tools, blender, mixer, oven, toaster, broiler, refrigerator, name the make and models

Food in the refrigerator and cupboards

Linens- kitchen ones, bedding, blankets, pillows

Beds

Night stands

Dresser

Bathroom supplies, cleaning supplies, brooms, vacuum,

Bathroom shampoos, creams, makeup, nail polish, razors, tooth supplies, medicines, aromatherapy bottles, perfume,

Jewelry

Clothing oh my gosh this is a huge list- shoes, dresses, pants, party outfits, costumes, winter clothing, bathing suits…

Don’t forget your Christmas ornaments and all the decorations, candles, gee gaws and nick nacks

Then have someone double check again

Ask for help. We are all in this together.
LOVE and hugs and prayers
C G

California Fire Victims Construction Loans or FHA Rehab Mortgages

President Trump declared federal disaster zones in Butte, Los Angeles and Ventura Counties in California

 Homeowners who are victims of these devastating fires are eligible for FHA rehab loans or construction loans. . With the Presidentially-Declared Major Disaster Area (PDMDA) in effect we are able to assist those victims through the FHA 203(h) program.

If you need help with forms or paperwork, call me and I will come and complete for you.

Borrowers may not have paper IRS taxes, w-2 forms and bank statements ready on hand but we will

find a way to recreate what is needed. Call me  (949) 784- 9699 

• No Down Payment
  The FHA 203(h) Home Mortgage requires no down payment as one way to help victims of a major disaster get back into a home easier and more quickly, understanding the economic hardships that accompany these types of loss.
• 100% Financing
  Homebuyers may finance a home for 100% of the purchase price.
• Lower Closing Costs
  FHA loans allow sellers to give up to 6% of a home's purchase price to an FHA buyer to pay for loan closing costs.
• Easier Credit Qualifying
  The FHA 203(h) allows for some leniency with mortgage payment history on damaged property but credit score minimums will still apply.
• Government Insured
  The FHA loan is insured by the government. Supreme Lending can offer options for home buyers that might not qualify for a conventional product.

Camp Fire Woolsey Fire  Malibu Paradise 

REBUILD

Realtor Choice

Just sharing the cards and requests for listing appointments.
Blue seems to be the predominant print color for real estate
branding. Head shots for women vary but for men it's a
three quarter view in a dark suit.

Four agents mailed multiple personalized letters which
arrive weekly. A few dropped notes on my doorstep.
The most effective were those who asked if they
could make an appointment.

Since I am in a related business for now thirty years,
as a mortgage banker and loan officer I
know many agents on a personal level.
What I wanted from a listing agent:
One with largest internet presence
One who will pay for and run advertisements
One who has large social media platform to share
One who is honest, clear, kind, and smart.
One who likes dogs (I have an elderly Golden Retriever
dog, Great Pyrenees and a naughty chihuahua).
One who won't put a lock box on the house, I have
valuables and I want some monitoring of who goes in.
One who will do a large broker preview and one open house.
One who writes a perfect contract, or has staff who can.
One who will negotiate and represent the property as
if it was their own.
Communicates timely, doesn't text, knows the market,
doesn't gossip, has joyful heart, and sells this property
for full price

Bank of America

number one complaint: offers low rate that they don't deliver

Client goes into B of A to wire escrow deposit (earnest money), the cost of $30 dollars for the wire is waived if they speak with the B of A loan hack. 

Kept the loan after a long talk, where client felt they couldn’t leave the branch, felt cornered by this young guy.

Moral, have them set up a wire without going into the bank.

MY answer:

Listing agent won't accept an offer from Bank of America

because they never close on time, the appraisal comes in

low, and they don't answer the phone when things go wrong.

Even in this market where lenders are fighting for deals and

laying off processors we close deals in fifteen days. 

Bank employees don't have a full set of products.