Every body out there that has a home or plans on buying one, the US Senate did us a favor and voted 72-22 to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370). The skiny on what happend is that NO MORE HUGE INCREASES will be allowed. This bill repeals FEMA’s authority to increase premium rates at time of sale or new flood map, and also refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase.
Watch NARs video, by clicking the link below, to learn about Homeowner Flood Insurance Affordability Act.