Soaring flood insurance a new headache for Sandy-struck homeowners
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A hearing on the new flood maps is scheduled for the July 15 Board of Trustees meeting at Valley Stream Village Hall (123 South Central Ave.) at 7:30pm.
Thousands of homeowners and businesses who were doubled over after Superstorm Sandy walloped the area last year are now facing a new burden: soaring flood insurance rates.
Residents like Joseph Margolin, of Valley Stream, are seeing their premiums hiked to jaw-dropping rates. Margolin says his neighborhood has never flooded, but FEMA classified it as a high-risk flood zone. His flood insurance...