The United States Senate adjourned without approving H.R. 4851, which would have extended a number of programs including the National Flood Insurance Program (NFIP). Authority for the NFIP expired at midnight on Sunday, March 28th, which will delay real estate transactions where a NEW flood policy is required but has not been issued before the expiration date. Efforts to reach bipartisan agreement between the House and Senate failed over how to pay for the broader bill. A procedural motion has been filed in the Senate setting up a vote the week of April 12th. NAR has stressed with Congress the vital importance of flood insurance to the real estate market.
We will continue to make every effort and advocate for legislation that extends the program for as long as possible. Please be advised that NAR has issued a Call for Action (CFA) that has been sent to all members to ask Congress to renew the National Flood Insurance Program and the Rural Housing 502 Program. Both programs expired at the end of March without Congressional reauthorization. Congress must reauthorize NFIP as soon as they return in April.
Tuesday, April 6, 2010
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About Me
- Lexington Real Estate with Edwin Gerace
- Lexington, SC, United States
- Edwin Gerace is Realtor with Holiday Builders in Lexington South Carolina. Edwin specializes in New Construction and 1st Time Home Buyers. Edwin is very active in Lexington South Carolina and is knowledgeable about the surroundings. Edwin is very active in his profession and community such as: On active committees with the Columbia Home Builders, active and on committees with Lexington Chamber of Commerce, Town of Lexington Performing Arts Center, Green Building Council of HBA, LORADAC, State Association of Realtors on State and Local Level, and many other community oriented service groups.
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