House Approves Flood Insurance Legislation

Dated: 03/05/2014

Views: 1387

The House approved legislation on Tuesday night to post-pone a recently enacted revision of the federal flood insurance program.  This after homeowners in high flood zone areas complained about drastic premium increases. 
This bill would allow sellers to grand-father their subsidized, below-market insurance premiums to their buyers, as well as lower the limit on how much flood insurance rates can rise each year.  
This new bill, if passed by the Senate, would make insurance premiums more affordable while making the Federal Emergency Management Agency (FEMA) more accountable.  FEMA is the government agency which manages the flood program.  
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Janis St. Onge

I am a certified Short Sale and Foreclosure Resource (SFR) who works with first time home-buyers, empty-nesters and investors. Call me today and let me be your eyes and ears in the Charleston tri-cou....

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