Yesterday I spoke with FEMA. I won't bore you with the minutiae of details, except to say the application experience is akin to a root canal without novocaine. After months of waiting, by the end of the day, I was promised a bid! Yay!
Later on I received the call (keep in mind this is supposed to be a low-interest disaster "relief" loan): The quote: 6.9% interest, seven year payback, AND FEMA won't accept a lien on the pier for their collateral, they want my personal home collateral!
Not knowing what you might know about this sort of thing I'll write it out. Most people could finance a ten-year-old KIA and get better rate and terms then this, from a used car street broker! Seems "Uncle Sam" has gotten into the loan shark business, so needless to say I declined their offer.
So, onto the good news:
1. WE DID NOT WAIT FOR FEMA,
2. Terra Mar's beautiful dock is back in business,
3. There were no assessments garnished on YOU!
4. There was no HOA or Government bureaucracy to further bog down the process of finding help, forcing parks to borrow money at used car interest rates, and then assessing the homeowners to make up the difference (which is what we understand most of the parks around us have to do to their residents in order to finance and pay for the repairs).
Come on down and enjoy. The lights are on and the shrimp will be running soon!