7 key steps if your home suffers a major loss

Here are seven key steps to follow if your home suffers a major loss.

  1. Immediately file a claim with your insurance company. For flooding, contact the National Flood Insurance Program (NFIP). If you don’t have coverage, check DisasterAssistance.gov and FloodSmart.gov for possible assistance.
  2. Document pre-loss and post-loss conditions. Hopefully, you have photos or video of your home pre-disaster. If not, find family or realtor photos showing the property, an inspection report, appraisal, receipts for furniture, appliances, work you’ve done. Take photos or video now, showing all damage.
  3. “Mitigate damages.” Insurance may require you to take steps to prevent further damage. Most states make insurers reimburse you within 30 days.
  4. Check “displacement” coverage. If you can’t inhabit your home, confirm how long your policy covers living expenses.
  5. Hire a public insurance adjuster (PA). If your insurer isn’t reasonable, hire a PA to negotiate for you. PA fees are state regulated.
  6. Avoid transient contractors. Work with local contractors who warrant their work.
  7. Stay safe. Don’t move back until all toxic substances are removed.

When financing a home purchase, or refinancing for a lower rate or improvements, please text, email or call us…. Have a great day!

P.S.: Mortgage rates are still near historical lows; contact us about today’s excellent options.

Tips provided by Home & Wealth.

The Jim Passi Team at Citywide Home Loans proudly serves Illinois, Wisconsin, Michigan, Indiana, Georgia and Flordia. If you are looking to buy a home or refinance, we have you covered. Apply Now to get started.
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Jim Passi - Citiwide Home Loans

Jim Passi
Regional Manager
NMLS# 158000

1284 West Northwest Hwy.
Palatine, IL 60067
Mobile: 847-899-1813
Email: jim.passi@alamedamortgage.com

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Jim Passi provides it ALL!

Jim Passi provides it ALL! It took me over a year to find a property that ideally met all of the needs of my family. In that time, I did extensive research and worked with several lenders. I was very surprised – and equally disappointed, that it was just as difficult to find a knowledgeable, professional, responsive and conscientious lender as it was to find our dream home! Jim is a rare gem! In an age where even satisfactory Customer Service seems harder to come by, Jim takes pride in taking “outstanding” to an unbelievable level! The property I purchased was a modest short sale (under $150K), – and nothing about that process is short! From the beginning – to EVEN AFTER THE CLOSING, Jim treated me like I was a million-dollar client 🙂 He’s the epitome of having an entire support team wrapped up in one person and I honestly don’t know how he squeezes everything into a day! He was genuinely enthusiastic in offering valuable advice, based on both his experience and expertise, which gave me solid direction to reducing my debt and increasing my assets to qualify me for the best programs and rates. He THOROUGHLY explained all of my options, consistently and expeditiously updated me throughout the process, AND was inhumanly patient with every question, every time. On top of it all, he is analytically brilliant with a head for numbers that is nothing short of amazing! Not only would I use Jim Passi for future refinancing and purchases, I refer him every chance I get!

THANK YOU for all of your dedication and concern, Jim!!

Lisa B.