Water damage to Connecticut coastal homes may bring financial trouble

Hurricane Sandy devastated the coastal area homes of many Connecticut residents. In some cases, tidal waves did more than 50 percent damage to the value of homes while raising the price of flood insurance. In addition, a federal revamping of flood maps of coastal areas nationwide has made even obtaining flood insurance for some homeowners difficult. The Federal Emergency Management Agency routinely adjusts predicted flood zones. In anticipation of climate change and storms like Hurricane Sandy, FEMA has made plans Continue Reading

Mortgage aid programs help distressed homeowners

Despite the fact that nationwide statistics show that foreclosure rates are falling, many Connecticut residents are struggling to stay in their homes. In some Connecticut cities, foreclosure rates are actually increasing. Experts opine that Connecticut’s high unemployment rate, a rate that is still at 9 percent, contributes to the state’s high rate of foreclosures. Many Connecticut residents, especially those in New Haven and Brideport – cities that were hit hardest with foreclosures – m may be in need of some Continue Reading