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

1121 E. Main Street, Suite 121
St. Charles, IL 60174
Mobile: 847-899-1813
Email: jim.passi@alamedamortgage.com

…the most kind hearted, attentive, professional person…

What can I say about this man….he is the most kind hearted, attentive, professional person I’ve met in a long time. He made my purchase as easy and smooth as it can be. He’d call every week just to check up or just to say Hi, I don’t know many agents that do that. I remember one of the first things he said to me when we met…..It is easier to find a home than a man lol….That will stick with me for a long time. Step by step he guided me through the whole process, answered all my questions and when I felt like giving up, which was often, he encouraged me not to in so many ways. He always knew the right things to say and make me smile. When he would say, I’m here for you, no matter what day of the week it is, believe me, that is a true statement . Throughout the process, not only did I get a home, I’ve gained another friend for life. Jim is truly heaven sent and I would highly recommend him and his team in a heart beat.

Thank you Jim for the jokes, laughs, encouragement and for putting up with me 🙂 YOU’RE MY MAN 🙂

Maggie F.