Financial Obligations
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We appealed our taxes twice and saved thousands of dollars. The municipality inspected, requested our insurance damage assessment and engineering reports, and reduced the value of the property.
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After the house was demolished, the municipality inspected again, and reduced the value to reflect a vacant lot.
Management of Your Financial Obligations
Your world may have come to a halt because of the disaster. Unfortunately, your bills will keep coming. Taking action on your bills may provide some financial relief and provide an opportunity to get your financial affairs in order.
#1. Bills and Loans
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Find out whether your mortgage company may be willing to temporarily reduce or suspend your payments.
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Request payment delays or a payment plan from your credit card companies, utilities, and other lenders, such as student loan lenders. Do this before the next payment is due.
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If you can no longer live in your home, contact your utility companies to suspend service.
#2. Property Tax Appeal
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Determine the process for appealing with your local tax assessment authority.
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If your home is destroyed or later is demolished, take action to ensure your property value can be based on a vacant lot.
#3. Preparation for Tax Filing
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Keep all receipts.
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Determine whether the federal or state tax filing deadline has been extended for your area.
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Review standard deductions fir disaster survivors.
Housing and Financial Assistance
Finding sources of money and securing long-term housing may take a long time.
#4. Aid Applications
Follow up on all disaster assistance applications.
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FEMA and state applications. Verify all deadlines for submitting information. The first FEMA deadline is typically 60 days from the declaration and the last one is 18 months after the declaration.
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A home inspection is part of the aid application process. The sooner you file, the sooner an inspection can be scheduled.
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FEMA terminology and programs are very confusing. There are several different aid programs.
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Small Business Administration (SBA) loan application. Even if you are not sure you want a loan, initiate the process. You must apply for the SBA loan to receive FEMA grants, with a few exceptions.
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Before your state disaster program will provide any assistance, it may require that you apply for an SBA loan, provide evidence of approval or denial of the SBA loan, and maximize available FEMA grants.​
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#5. Insurance Claims
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File your insurance claims and confirm the deadlines for completing the claims.
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Talk to your agent about what is and is not covered. Insurance terminology is confusing, making it difficult to understand what is covered.
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Remember you must still pay your premiums. Review your coverages with your agent based on your situation.
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If you are in temporary living, identify whether you need renter's insurance.
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If you are rebuilding, find out whether you may need a different policy during the construction phase.
#6. Long-Term Housing
Develop your long-term housing plan if you are displaced.
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Assess how long you can stay in your temporary living location.
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Determine if your insurance covers temporary housing.
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Find out if FEMA is providing long-term temporary housing for your specific city, county, parish, or borough. Long-term housing is provided based on the severity of the natural disaster and the impact on the local housing market.
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Reach out to local non-profits for assistance.
Support for Other Needs
Disaster survivors still need to work and take care of themselves and their families while coping with the many post-disaster challenges.
#7. Mental Health
Take care of your mental health.
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Consider counseling for emotional trauma and the stress of the recovery process.
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Contact the Disaster Distress Helpline of the Substance Abuse and Mental Health Administration (SAMHSA), 1-800-985-5990.
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Contact your Employee Assistance Plan (EAP), if available.
#8. Your Employer
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Communicate with your employer about your situation.
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Determine whether you are eligible for paid time off, financial assistance, an employer loan, or other accommodations.​
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The SECURE 2.0 Act of 2022 allows for penalty free withdrawals up to $22,000 and loans up to $100,000 from eligible retirement plans for disaster related expenses.
Documentation
Our insurance claim was closed after two years. We were no longer able to access any of the documents. We needed some of the claim paperwork for the mortgage company. It was a big hassle to get it.
Documentation
Good records will help with all aspects of the recovery process.
#9. Tracking Documentation
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Minimize the use of texts. They are difficult to search through later when questions come up.
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Maximize use of email for communication and save all emails.
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Save all sent and received emails in a specific folder.
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Follow up conversations with an email reiterating what was stated.
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For example: Bob, as a follow up to our conversation today, you said you would provide an estimate for repairs of …
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Take photos.
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Use photos of new or overlooked damage to support requests for additional money from insurance and disaster assistance agencies.
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Save photos in a location that is easy to access.
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Collect other documentation
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Download and save copies of documents and aid applications from government agencies, insurance companies, and any other business or organization that is part of your recovery.
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Copy information to your computer hard drive or cloud storage, or print and file the information. These actions will ensure you have the information in case the website is down or the information is no longer available .
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US Active Duty Military, Veterans, and Surviving Family Members
If applicable, take advantage of disaster assistance from the Veterans Administration, TRICARE, and the Transition Assistance Program for Survivors (TAPS).
#10. Leverage Your Benefits
The Veterans Administration (VA) provides disaster assistance. Areas of assistance include:
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VA home loan payment assistance
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Medical claims support
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Replacement of medical equipment
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Service animal expenses
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Spinal cord injury, traumatic brain injury, and homebound Veterans outreach
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Rapid re-housing and rental assistance
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Educational benefit continuation and repayment extensions
Tricare Medical Benefits processes may be changed for a period of time after a disaster. This might include
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Early prescription refills
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Blanket waivers for referrals and authorizations
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Other emergency benefits
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Tragedy Assistance Program for Survivors (TAPS) has a casework team that can assist with accessing benefits and resources. Some financial assistance is available.​