FEMA Facing Financial Woes After Hurricanes and Wildfires

  • December 27, 2017

Since Labor Day, nearly 5 million Americans have registered for federal aid as a result of destructive hurricanes on the East Coast and devastating wildfires on the West Coast.  Despite the financial challenges the Federal Emergency Management Association (FEMA) is facing, FEMA Administrator Brock Long is optimistic in solving FEMA’s problems.  In a statement he said, “I didn’t come up here to do the status quo, I’m ready to change the face of emergency management.”

From August through September, Hurricanes Harvey, Irma, and Maria pummeled the Southeastern United States from Texas through Florida.  Later that fall, numerous wildfires caused a record $10 billion in damage across the state of California.  FEMA is not capable of providing long-term assistance with natural disaster after disaster requiring attention. 

Cities like Rockport, TX are still struggling to recover.  According to Rockport Mayor Charles Wax, the city does not have a single operating apartment complex, and only 360 of the 1,300 businesses have reopened.  Throughout the state of Florida, residents experienced price gauging by post-hurricane cleanup crews.  CNN reported the removal of a damaged refrigerator surged from $100 to $969 and the removal of broken boats skyrocketed from $3,200 to over $20,000, after Hurricane Irma.  Across the island territory of Puerto Rico, over 50,000 families are still on a waiting list to have blue tarps put over damaged roof by a third-party organization called Operation Blue Tarp.  This year’s California wildfires ravaged a combined area larger than the cities of New York and Boston. 

FEMA Administrator Brock Long encourages Americans to be prepared for emergency situations.  He said in a statement, “Americans are the true first responders.  We've got to get back to the basics, and teach people tangible skills, not only how to do CPR and first aid but to shut off your house gas lines or water lines after a disaster.” 


Sources: CNN, CNN

Carey Ann Cyr
Area Sales Manager
NMLS # 160055
Branch NMLS # 1093019

Carey Ann Cyr

PHONE: (615) 456-4456

CMG Image
© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (www.nmlsconsumeraccess.org).