State loans become available today to homeowners hit by flooding during last week’s record rain storm. As WNPR’s Harriet Jones reports, officials hope the cash may help those who find their losses were uninsured.
Connecticut is setting aside $1.5 million to provide low cost loans to help with the cost of clean-up, repairs and replacing items destroyed in last week’s floods. Thousands of homes had basements inundated with water, and many homeowners are finding themselves with bills to replace costly items like furnaces and hot-water units. Most are not covered by homeowners insurance, which specifically excludes groundwater flooding, and many had not purchased separate federally backed flood insurance.
Loans will be offered at 2%, and are capped at $20,000 for structural repair, $7,000 for furnace replacement and $750 for hot water heaters. Applicants will have to document, preferably with photos, that their damage was caused by the recent flooding.
For WNPR, I'm Harriet Jones.