Mortgage holders of more than 500 Phoenix and Scottsdale properties are now able to cancel their flood insurance due to flood map changes that went into effect July 20, 2021. That is because the flood insurance rate maps for a portion of northwest Scottsdale and northeast Phoenix were updated to make them more accurate. Based on these changes, the 100-year flood plain became smaller, removing hundreds of properties from the area that requires mandatory flood insurance. That means expensive flood insurance is no longer mandatory for owners of those properties that are subject to a loan. But the bad news is that a small number properties were added to the flood plain area, so the owners of those buildings will now be required to carry flood insurance.

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