Page 6 - The Long Road Home

KEY FINDINGS
Immediate Impacts
respondents’ insurance companies’ awards fell into this range.
Sixty-seven percent of the awards were for $75,000 or less while only 27 percent of the owners stated that their damages fell into this range.
Seventy-seven percent of respondents reported that they either did not have enough money to finish rebuilding their homes, or else needed to rely on or borrow from funding sources such as retirement or other savings, Small Business Administration (SBA) loans, and credit card debt.
Struggling to Rebuild
More than half of the homeowners
who hired a contractor experienced problems with the contractor, and, of those who did, nearly 60 percent were unsuccessful in resolving problems on their own and still need assistance. Of those in the grant programs who reached out to the Department of Community Affairs (DCA), 70 percent reported that the agency did not help them resolve the issues.
Twenty percent of respondents in the RREM or Low-to Moderate-Income (LMI) program have been told that they owe money back to the grant programs; more than a third of this group were informed verbally and never provided with written notice.
Photo: Krista Sperber, Grass Creative.
Nearly all – 98 percent – of respondents reported Sandy damage caused by flood waters, but only 78 percent had flood insurance policies. Even for those who did, insurance payments were often not adequate to fund the reconstruction and renovation costs.
Twenty-two percent of respondents indicated that they were still out of their homes, but planning to move back eventually.
Funding the Recovery
Nearly 50 percent of homeowners reported damages of $150,000 or more, but only seven percent of
98%
of respondents reported Sandy damage caused by flood waters.
*For full survey results, please consult the appendix.
40%
of respondents do not have the funds to complete rebuilding their homes.
56%
have had trouble paying bills and/or affording food and gas since the storm.
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THE LONG ROAD HOME