H.R.3370 has PASSED…. The House!

The Homeowner Flood Insurance Affordability Act (H.R. 3370) with amendments (see previous blog post) has passed …. The House! The Federal Emergency Management Agency (FEMA) will be reined in and held accountable for the Biggert-Waters implementation issues. This bill will repeal FEMA’s authority to increase premium rates at the time of property transfer or new flood map. REFUNDS will be paid to those who have already paid excessive premium rate insurance payments. Additionally, it will limit any premium increase to 18% annually. Now, the bill has to go in front of the Senators. The … [Read more...]

What Now for Outer Banks Homeowners Impacted by Flood Insurance Premiums?

National Association of Realtors® Demand Immediate Relief for Homeowners Impacted by Unforeseen and Exponential Increases in Flood Insurance Premiums  This is an News Release from the National Association of REALTORS(R) - Media Contact: Jenny Werwa / 202-383-1193 WASHINGTON – Homeowners across the country should not be forced to pay for the sudden and dramatic flood insurance premium increases that are the unintended consequence of the Biggert-Waters Flood Insurance Reform Act of 2012, insisted the National Association of Realtors® today in testimony before the U.S. House Financial … [Read more...]