When it rains, it pours
Large expenses seem to all come at once. We understand that during this time, it is more difficult than ever to plan for the unexpected. At Over The Top Roofing & Remodeling we have several options to assist in making sure you have peace of mind in managing your home improvement budget.
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FMD (Fund My Deductible)
- When you are hit with unexpected damage to your home FMD allows you to make 0% interest payments at a monthly repayment you feel comfortable with to meet your deductible. For example, if the value of your home is $450, a 2% deductible will be approximately $8,700. FMD will allow you to break up those payments into more budget friendly options. We can go as low as $290 per month for 30 months at no interest. This allows you a sense of security knowing your repair/replacement can be completed.
JOIST – Lending Partners
- As a leading software tool for construction professionals, JOIST allows you to apply for financing after an invoice has been created from us and emailed to you. You will be able to quickly access the lending options and submit in the privacy of your home for whatever amount you feel comfortable.
About House Bill 2102
- Here’s what you need to know about paying your deductible now that HB 2102 has been passed. HB 2102 (a NEW Texas Law, starting September 1st, 2019), now requires ALL Texas homeowners to pay their homeowner’s insurance deductible. However, HB 2102 does allow you as a homeowner to pay your deductible in installments, but even paying in installments can still be overwhelming if you don’t have the funds to cover the payments.
What is House Bill 2102?
- Here is the nuts and bolts of HB 2102 that Texas Governor Greg Abbott signed on June 14, 2019. Homeowners, such as yourself, in North Texas, can no longer take advantage of a “Free Roof”. It had become common practice for roofing contractors to offer to waive your deductible to help you get a new roof due to hail or wind damage. Even though this has technically been illegal in Texas since 1989, the statute was not well written so there was little enforcement. This new law, HB 2102, makes enforcement possible.
What does this mean for YOU, the Homeowner?
- How does this new law affect the roofing contractors you will be working with? Under the recently approved Texas House Bill 2102, any roofing contractor that offers to waive your deductible on your property insurance could be facing criminal charges. So, roofers are now required to state in their contract in boldface language that you must pay the deductible under your property insurance policy. Since this House Bill is in effect, it’s now a criminal offense for a roofing contractor to do the following for you: – Pay your insurance deductible; – Waive your insurance deductible; – Absorb your insurance deductible; – Rebate your insurance deductible; or – Offset your insurance deductible.