Companies could rethink flood zones following flooding

Companies could rethink flood zones following flooding
(Source: KAIT)
(Source: KAIT)
(Source: KAIT)
(Source: KAIT)
A Region 8 loan officer said she would not be surprised if homeowners out of flood zones were in one soon.

Carla Price, a loan officer at River Bank in Corning, said it is a possibility that flood determination companies will reconsider flood zones after last weeks floods.

Weve had three major floods since 2009, and this is the worst, Price said. This area, we are surrounded by water.

Many people in Success are not in a flood zone, despite the fact their homes sit close to water.
Last week, several of those residents experienced flood damage inside their homes for the first time.

Weve seen floods but not this bad, Billy Cato, a Success resident, said.

Price said flood determination companies rezoned flood zones after the 2011 floods.
After seeing Success under water, it would not surprise her if they did the same there, converting areas in non-flood zones to flood zones.
That would mean those people would be required to get flood insurance.

It would help them in the future for flooding to obtain flood insurance, Price said.

Cato, in his 70s, does not live in a flood zone and his home was damaged in the floods; however, he hopes he is not required to buy flood insurance.

It doesnt seem fair, he said. It's too expensive for some people to have. When your old and youre on social security, you'll have to watch what bills are going to be added to your monthly amount of money.

 Meanwhile, Price said if the Federal Emergency Management Agency did decide to rezone homes in Success, it is unclear when people would be affected by the change.

CLAY COUNTY, AR (KAIT) - Copyright 2017 KAIT. All rights reserved.

Watch Region 8 News On Demand: On your Desktop | On your Mobile device

Region 8 News App - Install or update on your: iPhone | Android