NAR Call for Action: Tell Congress – Don’t Put 40K Transactions a Month in Jeopardy
Without Congressional action by September 30, 2017, authority for the National Flood Insurance Program (NFIP) will expire. If the NFIP lapses, more than 40,000 real estate transactions per month will be in jeopardy.
NAR is urging you to drive messages to your members of Congress to pass “The 21st Century Flood Reform Act” H.R. 2874 as soon as possible.
H.R. 2874 contains numerous provisions of critical importance to consumers and REALTORS:
- Reauthorizes NFIP for a full 5 years, avoiding the uncertainty of short term extensions and potential shutdowns
- Caps NFIP rates at $10,000 per year for property owners
- Directs FEMA to develop more granular rate tables, to ensure fewer properties are over charged by NFIP
- Sets aside $1 billion for flood mitigation assistance grants
- Increases access to private market flood insurance
Tell Congress to PASS Flood Insurance Reform Now!