WASHINGTON – Nov. 26 2013 – Calling all Realtors®: Add your name to a petition to delay implementation of changes to the National Flood Insurance Program (NFIP).
Passage of the Biggert-Waters Act, which extended and changed NFIP, was premature and negatively impacted real estate transactions where flood insurance is required to obtain a mortgage.
At the request of Florida Realtors and Realtor associations around the country, the National Association of Realtors issued a Call For Action asking for a four-year time out. NAR urges Realtors to help spread the message to their congressional delegation: Timing and numbers count when it comes to emphasizing the need for the delay.
Congress has legislation in the House (H.R. 3370) and Senate (S. 2620) to:
• defer rate increases until FEMA completes the affordability study mandated by law
• create a system for targeted rate relief
• establish an office of the Advocate for flood insurance rate and mapping concerns
Please respond to the Call to Action below and ask other Realtors to do so as well.
For more on the Biggert-Waters Act and other flood insurance resources, check out Florida Realtors Flood Insurance Toolkit.
© 2013 Florida Realtors®