We're closing in quickly on a month of dealays and cancellations because of the failure of Congress to fund the National Flood Insurance Program. According to the guys over at Think Big Work Small, this is stopping or delaying over 1200 closings PER DAY! According to the National Association of Realtors (NAR), Congress has been completely uninterested in tackling this as a stand alone item, and instead want to include it along with controversial items that will not pass either house easily.
Like Katrina and the BP oil spill, this is spelling disaster for our area. As you can imagine, there are not many deals around here that are done without a flood insurance requirement. Please write your Congressional representatives in both houses (NAR has an available, editable e-letter than can be sent in minutes at www.realtor.org) and ask them to move along. There are clients spending tons living in hotels because of this. My heart also goes out to those in Oklahoma and Arkansas who have been adversely affected by this disgusting political inaction. Hurricane season in now upon us...here's hoping they get off their asses before it's too late.
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