elbe-flood-0410.jpgA reader forwarded this article to us last week about the lapse in the federal flood insurance program; it seems that the Senate adjourned for its Easter recess without extending HR 4851 along with a handful of other programs. In this reader’s case, the lapse was preventing her from closing on her house in Brooklyn. She’s not the only one: According to a spokesman for the National Association of Mutual Insurance Companies, while those with existing coverage will be covered retroactively when the Senate gets around to passing the bill, it is having a “serious impact” on folks looking to close. Has anyone else encountered similar difficulties?
Federal Flood Insurance Program Lapses [IFA News]