In Moore, Oklahoma They’ll Pay You to Purchase Property in a Tornado Track

Discussion in 'Weather In The News' started by Steve Miller, Jul 31, 2017.

  1. Steve Miller

    Steve Miller Owner
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    May 20, 2013 is the date of the most recent EF5 tornado in Moore, Oklahoma. It’s not the most recent tornado in Moore, however, it is the most destructive in recent history. If you were to connect every tornado track that has affected Moore since weather records here began in 1893, it would be 249.3 miles long. 102 tornado-related fatalities and 1044 injuries have been recorded in the city during the same period.

    So how does a city attract people back to areas where tornadoes are considered a commonality? Well, the same way casinos lure gamblers back to the table: Free money. Here’s look at the effort launched last week in Moore:
    13db234bb10c0c0ca108d2baa7973b24.png
    How it works:
    Assistance is provided in the form of a five-year forgivable second mortgage. The second mortgage is subject to forgiveness after buyers have occupied the home as their primary residence for five years. If the property is sold, refinanced or conveyed during the five-year affordability period, the buyers will have to pay off the pro-rated amount prior to closing. The forgiveness of the second mortgage is 1/60th per month, beginning 60 days after closing. If the property is sub-leased during the five-year affordability period, the full amount of DPA that was provided is required to be paid back. Click for the fine print. Note: There is no mention of what happens if a property is totaled by another tornado.

    So, if you like living on the edge when it comes to severe weather, join us in Moore and save a few bucks!
     
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  2. JamesCaruso

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    Great deal for chasers wishing to relocate to the Plains!


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  3. Shawn Camp

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    yeahhhhhhhh ooooooooooook. I would not live in Moore or anywhere south of 35. Thanks but NO Thanks.


    Shawn C.

    "FOX 4-Warn StormTracker"

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  4. Dan Robinson

    Dan Robinson WxLibrary Editor
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    There are quite a few small towns in the Plains offering free land to anyone willing to build and relocate there full-time. Kansas also offers tax breaks and other incentives for people moving there. Would be great for a telecommuter I would think! I considered doing this years ago.
     
  5. Warren Faidley

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    They should have built an "old chasers" retirement home on that land. Just fortify it as required, add some observation towers and a good bar and it would be a hit.
     
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  6. michael beard

    michael beard Lurker

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    35 goes from mexico to canada now cali to the Carolinas lol

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  7. michael beard

    michael beard Lurker

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    You couldn't give me a free a house and pay my bills for life to get me to live in OK. I'm perfectly fine in texas and i'm fine with driving up there to chase.

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  8. Drue Bernardi

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    I have to disagree. You give me a free house and pay my bills for life I'll plant roots just about anywhere, but especially in Tornado Alley. No bills means all my money goes to chasing, close proximity means after work chases and less vacation time used. Count me in.

    That being said it would have to be that great of a deal to get me to uproot from where I'm at right now.
     
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  9. Brian McKibben

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    Dang it. I already own a home in Moore. Same thing happened with storm shelters... city gave assistance to put them in, but I had just done it. Timing.

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  10. Warren Faidley

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    The only thing they forgot on the list of requirements was for new residents to attend a yearly storm safety class. It does not matter if you have a shelter if you don't pay attention to the weather. In reality, there are only a few days a year in the OKC area where the risk is high enough to warrant close monitoring.
     
  11. Devin Pitts

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    For a free house and bills paid for life, I'd do it in a heartbeat.
     
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  12. Charles Ryan Mauk

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    If I didn't have a family to take care of I'd do it instantly. Well Maybe...


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  13. Greg Flint

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    Price CANNOT exceed $138k?
    $180k for new construction?

    I'm not exactly familiar with Moore's housing mkt, but this doesn't seem like you would be buying the nicest property at those levels.
     
  14. Randy Jennings

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  15. Dan Robinson

    Dan Robinson WxLibrary Editor
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    I wonder what homeowner's insurance rates are like in Moore and if they have changed since 2013. That could really be a significant cost of ownership there. Rates are crazy high even here in IL compared to WV/PA simply because of the severe weather risk.
     
  16. Greg Flint

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    If i understand this correctly, 2 people cannot have combined income over $43,875 to qualify for this???
    I'm all for assistance plans, but when they create unrealistic parameters in relation to income & purchase price how do they expect this assistance to actually reach people? Parameters are so tight, its almost not even worth offering.
     

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