By now I know you have heard more than you thought you ever wanted to know about flood insurance.
There is good news: Congresswoman Waters, ranking member of the House Financial Services Committee, has come up with a solution, bipartisan, to fix NFIP and affordably. Basically, there is a four year delay to the program and requires that FEMA study the affordability aspect and address those issues.
This is the best news we have had in the last few weeks – what with insurance premiums skyrocketing for many homeowners. This solution is far-reaching and Congresswoman Waters is urging the Legislature move on this as soon as possible.
So hopefully, our representatives in Congress will look to afford some relief to the unintended consequences of the Biggert-Waters Act.
More updates as they are released.
Until Next Monday…