Congress Still ‘Out to Lunch’ on Flood Insurance — New York Real Estate

Congress Still ‘Out to Lunch’ on Flood Insurance

by Raja Tayeb on March 22, 2010

Flood Insurance

Flood insurance is still being kicked around Congress like a football. The House voted Wednesday to extend the federal program through the end of April; the Senate is likely to consider the temporary extension before it recesses next week.

Current policyholders would continue to be covered even if the Senate doesn’t vote on the extension, but no new policies can be issued without Senate approval, so home sales in flood-prone areas would be delayed.

Source: Times-Picayune, Bruce Alpert (03/18/2010)

Posted via web from New York Real Estate Access | Real Estate Blog

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