Cindy, I am so sorry this happened to you. I wish I was home in south TX right now, I would come help you wash, dry and iron your fabric. But I am in FL till Dec.
While living in MN our basement flooded once and all my fabric, hundreds of dollars of yarn, and a lot of scrapbooking supplies were ruined. So my hubby put water proof paint on all the walls, and built shelving to keep everything off the floor. We waited 5 years to make sure the paint worked and then we finished off the basement. We never had any problems again.