The Mortgage Go To Guy!!

Lightning struck twice this week. While speaking to my friend and Realtor Jeanette Neerpat in Coral Springs, Florida… I related to her how I had a client getting a Hurricane Inspection which was shaving 40% off the insurance premium for the house he is purchasing.

She asked me if it was a My Safe Florida Home inspection… I had never heard of that. She told me about how they offer FREE Hurricane / Windstorm Inspections to homeowners in Florida. I had to find out more…

So then I was talking to a new buyer… referred to me by another ActiveRain member. He is a first time homebuyer etc … and guess what he does? Installs Hurricane Shutters in West Palm Beach Florida!

I asked him if he knew about it and he said that his company is on the certified contractor list… and they get a lot of business from it.

So I had to investigate this further… My Safe Florida Home was set up by the State of Florida to help homeowners to protect their homes in the case of windstorm aka Hurricane Damage.

Alex Sink, the CFO of the Florida Department of Financial Services (who also oversee all the mortgage brokers like me!), helped found this program to help all Florida homeowners protect their homes to avoid costly insurance repairs and blue tarps like in past hurricanes.

My Safe Florida Home offers several services:

Free Home Inspections - Homeowners can apply online for a free wind inspection or by calling the Department?s toll-free My Safe Florida Home helpline ? 1-866-513-6734.
The Department of Financial Services will send out a state certified inspector to your home for free. The Inspector will:

• Outline improvements that may be made to your home to increase resistance to hurricane wind damage.
• Provide an estimate of how much each improvement would cost to complete.
• Provide an estimate of insurance discounts that may be available. (If you provided insurance information at the time you applied.)
• Offer a hurricane resistance rating that shows the home?s current ability, and future ability with improvements, to withstand hurricanes

Matching Grants for Improvements - You are eligible for a matching grant up to $5,000 if you live in a single-family detached, site-built home that meets the following criteria:

• has a building permit application for initial construction made before March 1, 2002;
• has an insured value of $300,000 or less;
• has a valid homestead exemption;
• is located in the wind-borne debris region;
• has undergone a hurricane mitigation inspection.

Low Income Assistance - The My Safe Florida Home program is working with the Volunteer Florida Foundation to offer low income families an opportunity to strengthen their homes against natural disasters.

• Improving the strength of your roof deck attachment.
• Creating a secondary water barrier to prevent water intrusion.
• Improving the survivability of your roof covering.
• Bracing gable-ends in your roof framing.
• Reinforcing roof-to-wall connections.
• Upgrading exterior wall opening protections.
• Upgrading exterior doors.

Insurance Premium Discounts - If your home has undergone a wind inspection through the My Safe Florida Home program and you are potentially eligible for insurance discounts or credits, you will receive a mitigation form via email or to your address by mail. This personalized form will tell your insurance company how your home may qualify for insurance discounts

You can also learn more about the My Safe Florida Home program at one of their fairs. The next event in South Florida is:

MY SAFE FLORIDA HOME FAIR: FORT LAUDERDALE
November 3, 2007, 10 a.m.- 4 p.m.
Broward Community College, Omni Auditorium
1000 Coconut Creek Boulevard
Coconut Creek, FL 33066

More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
TheMortgageGoToGuy.com
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

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