Insurance Lapse Hosing Buyers?
A 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….
A 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]
some individual may have criticized the program…and that has happened over the years – especially how it helps expensive oceanside properties.
But you really don’t get any politician from any party/ or any party itself saying this federally run insurance program should be ended.This is socialist, etc,etc,etc.
That is the hypocrisy with the health insurance debate….
they pick and choose what to be against and call that gov’t intrusion while mum about other programs that benefit constituency which are more ‘socialistic’.
“did they ever say get rid of it? Did you ever hear a scream from them to end it?”
Yes, from some. Big section in one of John Stossel’s books about how ridiculous it was that he was able to claim on this when his beach house got damaged.
“the lapse was preventing her from closing on her house in Brooklyn”
Might be a blessing in disguise.
***Bid half off peak comps***
I’m glad you put that in quotes… somehow makes it 300 times dirtier.
Tops wind up flipping after they get a “taste.”
Pete – I think your mixing up the top and bottom with me and DIBS. (no homo) I was the one making the pathetic attempt at joking about the right wing’s call for “small government” and DIBS was the one that pointed out it was a gummint program.
It’s gonna take a while to figure out the top and bottom… though, for the record, I like the top arrangement.
tybur, you best keep your jokes to real estate snark. Your atttempts at humor based on economic and social issues lack the punch that some others are so good at. 🙂
you are still right, tybur, on pointing out that this is a gov’t run insurance program. Yet, when the health insurance reform bills went thru congress, which is not gov’t run health insurance, the wingnuts/teaparty lunatics said the sky was falling, socialism, yadda yadda…
but here we have had an actual gov’t run insurance program for years…did they ever say get rid of it? Did you ever hear a scream from them to end it?
I know… I was trying to make a bad joke. My aunty in Boynton Beach, Florida has the federal flood and hurricane supplemental insurance. She’s not poor (though that’s what she argues to her HOA since her house is a wreck.)