House which I just recently came to an agreement on with the seller for purchase was just deemed to be in a

Asked by Hubby Rivers, New Jersey Fri Jun 27, 2008

flood zone. How much should I drop my offer? Should I drop enough to cover the additional insurance for the life of the loan ? Or is there some other general percentage rule for the devaluation of the house now that it is in a flood zone. Thanks in advance for any help or knowledge!

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