Congress Extends Flood Insurance for Five Years

By
Real Estate Agent with Keller Williams Brandywine Valley PARS273421 & De Lic.
 

 

On June 29, the US House and Senate passed the Biggert-Waters Flood Insurance Reform Act of 2012 that reauthorizes the National Flood Insurance Program for the next five years. All members of Congress representing southeastern Pennsylvania supported the legislation. President Obama is expected to sign the measure this week.

 

Because of the collective voice of thousands of REALTORS, Congress has passed legislation that will bring certainty to real estate transactions in more than 21,000 communities nationwide where flood insurance is required for a mortgage. The bill also ensures the program will continue long-term for more than 5.6 million businesses and homeowners that rely on it and means taxpayers will sped less on federal assistance for flood disasters over the long run.

 

Click here for more information on this important victory for REALTORS

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Rainmaker
506,932
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Janice, this is indeed good news and thanks for sharing it. Have a great holiday.

Cal

Jul 03, 2012 10:11 AM #1
Rainmaker
1,011,941
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

We just heard this in our office meeting today.  It is a good thing.

Jul 03, 2012 10:12 AM #2
Rainmaker
177,562
Erv Fleishman
Realty Associates - Boca Raton, FL
Luxury Prop Specialist Realty Associates

Great news for Florida where more policies are sold then any other state.

However, I believe that a significant price increase goes along. 

Jul 03, 2012 10:51 AM #3
Rainmaker
472,164
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Cal, appreciate you stopping by. Happy Fourth of July to you as well

Jul 03, 2012 11:06 AM #4
Rainmaker
472,164
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Tim, I agree. It is a good thing

Jul 03, 2012 11:06 AM #5
Rainmaker
472,164
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Erv, hopefully not too big an increase.

Jul 03, 2012 11:06 AM #6
Rainmaker
2,682,132
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Janice - This is great new, and it will help many homeowners. Thanks for the information on Congress extends flood insurance for five years.

Jul 03, 2012 11:13 AM #7
Rainmaker
472,164
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

John, I am glad it is hleping so many homeowners. Happy Foruth of July!

Jul 03, 2012 07:17 PM #8
Rainmaker
2,224,173
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

It was certainly great to see that the House and Senate passed the extenion by such a wide margin, but wan't so happy about the increase in fees.

Jul 03, 2012 07:36 PM #9
Rainmaker
472,164
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Joe, nobody likes to see those increases, for sure.

Jul 04, 2012 03:26 AM #10
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Rainmaker
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Janice Roosevelt

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