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Another Band-aid Applied to NFIP


On September 30th the National Flood Insurance Program (NFIP) was again extended to avoid a lapse in coverage.  This extension runs through November 21st, where the program will need to be extended for the 14the time in 2 years or reauthorized.

The National Association of REALTORS® continues to urge Congress to pass the NFIP Reauthorization Act which would extend the program 5 years and contribute significant reforms such as improved mapping and removal of obstacles to private flood insurance.

NAR estimates that if the program were to lapse approximately 40,000 home sales would be affected every month.

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