Here is an excerpt of a post regarding FEMA assistance that was allegedly corroborated by two other people:

"Ok I just had talked to a FEMA operator and here is the low down for property owners. Everything is predicated on your credit score. Once you apply for FEMA, you will be asked to fill out an SBA loan application thru the mail no matter what, they will not process your application until you apply for the loan. Your credit score will determine the loan percentage you will be recieving. The loan percentage is 5.375 for home loans and 6.557 for Business loans. And get this, based on your credit score, you may have to repay the loan in 3 yrs with your home as collateral in case you default. The better your score the faster you have to pay back. A hurricane came and took away all my income and the FEMA represenative says it doesnt matter because I have a high credit score. If I have had a low credit score and not be able to get a loan, they would give me a grant. So basically they dont care if you lost everything and you have no income and starting over, they think your credit score is the tell all tale of your life. Ive mortgaged everything Ive own, and I believe my insurance wont cover me. What good is getting another loan to rebuild when I do not have income coming in to repay the first mortgage loans already, and they expect me to repay everything in 3 lousy years because I worked hard all my life to pay my debts and earn a high credit score. Its nice to extend the time to rebuild but with a loan, but I cant afford the first mortgage while I am rebuilding the houses for tenants again. I would think FEMA deals on a per person issue. Ive never believed I would do this, but I may declare bankruptcy and start liquidating. Does anyone know of a good bankruptcy lawyer. If people are holding out hope FEMA will save them, I highly recommend against this thought process. I wish I could rebuild with all of you but it seems Katrina has virtually wiped me out, I am just holding out hope that I will be able to sell the dry buildings I have for a profit to pay off all my debts, If the current FEMA policy is in place there is no way the city can rebuild its flooded city, too many homeowners do not have insurance and they cannot afford to repay back a loan like myself anyways, it would take a drastic change in FEMA's guidelines for me to be able to live and do business in New Orleans again. Im sorry for the long rant but I think Ive reached the end of my rope."

In addition, here is the insurance information:

I passed on information about Parc Fontaine damage (which was subsequently corrob. by another person), onto the Parc Fontaine Condo Assn., the Parc Fontaine Management Assn. and Latter & Blum. I advised them of the serious roof damage etc and that they will need to attend to this asap. They will respond "as soon as possibe". I have had several emails since reassuring me. They were very pleasant and supportive.

I checked with some insurance companies, including my own. Unfortunately, most policies DO NOT cover secondary water damage caused by damage to the primary structure/roof/walls, unless you have Flood Insurance so...looks like it could be time to apply to FEMA or go after Parc Fontaine and Shadowlake Management Inc to get them to cover the damage to our apartments, belongings and condominiums. Sample policy langauge in the Exclusions Part reads "We do not insure for loss caused directly or INDIRECLY by any of the following. Such loss is excluded regardless of any other cause or event contributing CONCURRENTLY or in any SEQUENCE to the loss: water leaking through a building..."

I was also told that in the best case scenario it will take 5 days and as long as 7 days for an Insurance Adjustor to even call a policy holder back!

Any ideas? Any information?

Tom