Loan Modification

"The new flood maps are part of FEMA's nationwide effort to better identify areas susceptible to flooding. The agency is using the latest mapping technology to create more accurate digital maps to replace aging paper ones. The goal: preventing devastation by allowing local governments, through tools such as zoning, to block residential and commercial development in flood-prone areas.

But homeowners who find themselves in a flood plain may face sharply higher insurance rates. Loans backed by the federal government -- Fannie Mae and Freddie Mac back more than half the nation's mortgages -- require flood insurance if a property is in a flood plain.