to fix or replace

[Emily]

my home was just one of many hit by one of the four Hurricanes. i dont know what to do. my insurance adjuster gave a list of things to fix. Now the estimators are saying there is more damage the insurance does not want to deal with. From the outside it does not look that bad, BUT I have mold growing around all the floor boards, there are water spots around all the edges of the inerior ceiling and markings throughout the walls. The home needs to be releveled. The fireplace is cracked. The cabinets are buckling from the water. 1/2 of the siding has to be replaced and half of the roof. I lived in a beautiful triple wide but it is an 88. Should I get itr fixed our push to get a new one?HELP!!!

[Mark Bower]

If the insurance company totals out the home, you will get a check for what the home was worth before the hurricane hit it. With many owners, that check may or may not pay off the existing loan. To buy a new 2004 home with the same square footage will probably cost you $30,000 more.

It does sound like your home has a lot of problems and staying could become a health issue. Most likely to fix those problems will cost more than the home is worth anyway, so you could still end up with a check for the home's value.

Mark
You gotta see my repair book!

[Renee]

I'm in the same boat you're in. I was hit with Charley, Frances and Jeanne. The insurance company wants to patch my house inside... ie: replace one or two sheets of paneling and leaving the rest. They want me to paint my roof and I have a hole in my roof. I have water seapage from the floor up the walls and some leakage from the roof. I live in a double wide MFH from 1983.

Insurance co says I have $11,000 in damage and the SBA inspector said I have $42,000 in damage....Any suggestions?

[Tom]

If you cannot come to an agreement with your insurance company, then you dont have much recourse other than to sue. Your state insurance commission may have some options for mediation. You will have to call them to find out, and get other recommendations also. They may require you to get a third inspection by a company of their choice. Your insurance company may have some options for mediation also, but you need to clearly state your feelings to them. Tom

[Emily]

Renee
Be careful about just replacinhg paneling. Behind the paneling is probasbly alot of mold. This mold can cause you to be very sick asnd even deadly. Please read the email I sent you. I have alot of numbers of people in our area who can help should they make you fix it and not replace it. Do you have another number for the SBA than the 1800? I want to talk to them. How did that go? My credit is so-so. I wonder how much they look at that.