NATIONAL FLOOD INSURANCE PROGRAM SET TO EXPIRE
The current authorization for the National Flood Insurance Program is set to expire at the end of September 2017. Both the National Association of REALTORS® and the California Association of REALTORS® are working with Congress to pass a long-term extension. So far, the House Financial Services Committee has passed a package of bills that would extend the NFIP and make reforms to financially strengthen it. N.A.R. is working with members of Congress to improve those bills.
If Congress does not pass a long-term extension to the program, C.A.R. and N.A.R. are hopeful Congress will pass a short-term extension that allows them to continue to work on a larger reform package that includes a long-term extension.
Lets hope they get this figured out quickly!