NAR has issued a Call for Action about the National Flood Insurance Program. The NAR (National Association OF Realtors) is asking everyone to contact their representatives in Congress. The goal is to encourage them to understand how many people want - and need - them to pass legislation in the House so that they reform the National Flood Insurance Program. A re-authorization is the least that is necessary.
The program is scheduled to expire on September 30, 2014. However the NFIP (National Flood Insurance Program) is critical in helping home buyers obtain financing in areas where flood insurance is required. It also may help those who already own their home in the same areas. The authors of the current changes to the flood maps have publicly stated that they did not realize the many many problems their changes would cause.
Your call will push the House and Senate to authorize the program for another five years. There are also other long-sought reforms in the bill that will put the program on a more fiscally sound footing. This is a grass roots effort to push those who are out of touch, to get in touch with this issue at least.
The NAR is saying that this action needs to be taken today. Normally there is a little window of time that your actions can operate in. But this effort needs to your attention now. Go to the REALTOR® Action Center for more information and to tell congress to reauthorize the National Flood Insurance Program today!
If you think the NFIP does not affect you, ask yourself how another real estate crisis would affect your values? If properties in a flood zone are allowed to - and are more correctly required to - have expensive flood insurance premiums, what will that do to the sale-ability of the property? And what will that do to the loans that exist on those properties? And then to the banks and or investors that hold the loans on existing property? It can affect your property even if you don't need flood insurance.
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / email@example.com
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker