Can our lender force us to purchase flood insurance 3 months after closing?

We closed on our house a little over 2 months ago. We paid to have a flood zone search done for the lender. We were told that we were not in flood zone and we did not have to purchase flood insurance to close. Now after closing my lender tells me we are in a flood zone and it wants us to purchase flood insurance. Do we have any legal grounds for this? We would not have purchased the house if it were in a flood zone. I didn’t seem correct that they could all of a sudden change there minds. The maps have not changed for 4 years. Can they make us get this insurance? What if I don’t pay for it?

Asked on March 5, 2012 under Real Estate Law, New York


Hong Shen / Roberts Law Group

Answered 8 years ago | Contributor

Check FEMA website. Punch in your address to find out whether your property is in a mandatory flood insurance zone. If so, each loan company will require you to buy insurance or they will cancel your loan.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.