Please help, we need your advice! Our bank recently bought a flood insurance policy on our house (for a whopping $2197 per year) & expects us to pay the premiums. They claim that this is required by FEMA.

How do we go about disputing this sudden requirement for flood insurance?

We bought our home in Rio Nido 5 years ago. It was built in 1904, has never flooded, is well above the flood line (ask anyone who's climbed up our 42 stairs). We were not required to buy flood insurance or have our home elevated (the main living area is already built on top of a basement) when we purchased the house.

We can't afford this insurance policy, OR the $500 I've heard you have to pay for a "flood certificate".

What do we do?

Thank you.