Cape May County Real Estate Appraiser Update - Flood Insurance
July 21st, 2012 2:37 PM

James Hanson Associates - Cape May County Real Estate Appraisers

Keeping you up to date on information pertaining to the Appraisal and Real Estate Industries. 

Flood Insurance Program (NFIP). 
Finally, the House and Senate on Friday, June 29, passed the Biggert-Waters Flood Insurance Reform Act of 2012 as a part of H.R. 4348, the Surface Transportation Conference Report.

The President is expected to sign the measure which is a culmination of a multiyear campaign by REALTORS® which included the Rally to Protect the American Dream on the National Mall in Washington.Congress had been extending the flood insurance program a few months at a time since 2008. Twice this led to shut downs, including one that stalled more than 40,000 home sales in June 2010 alone.

Passage of this 5-year reauthorization will bring certainty to real estate transactions in more than 21,000 communities nationwide where flood insurance is required for a mortgage.

To receive more information on Cape May County Real Estate Appraisers or to ask questions about this article, Cape May County home appraisals or Cape May County commercial appraisals, please contact us!

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Posted by James M. Hanson on July 21st, 2012 2:37 PMPost a Comment

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