National Flood Insurance Program (NFIP)

I received the email below from Sammie Copeland at the West Pasco Board of Realtors. I thought it important enough to re-post it here on this blog.

The Problem:

Congress provided a 5-year reauthorization of the National Flood Insurance Program (NFIP), but severe implementation problems threaten to undermine real estate transactions where flood insurance is required to obtain a mortgage.

*             New NFIP rate structures have caused serious confusion and hardship for property owners.

*             The Federal Emergency Management Agency (FEMA) continues to delay and miss deadlines.

*             The legally required transition to true risk rates has plagued consumers with increases in rates beyond what anyone imagined possible.

The Solution:

A four-year time-out. Congress has legislation in both the House and Senate to delay changes to the NFIP. Tell your Member of Congress and your Senators to bring these bills to a floor vote IMMEDIATELY:

*             H.R. 3370 Homeowner Flood Insurance Affordability Act of 2013

*             S. 1610 Homeowner Flood Insurance Affordability Act of 2013

*             The bills would prudently defer rate increases until FEMA completes the affordability study mandated by law

*             The bills would create a system for targeted rate relief.

*             The bills would create an office of the Advocate for flood insurance rate and mapping concerns.

Please take action TODAY!!!  Click Here to take Action <http://www2.realtoractioncenter.com/site/R?i=ScPt72pch9Zifu-2KJOWwA> .