For those who have been in the business for more than five years, you are no stranger to the situation we are about to face regarding the crisis that the National Flood Insurance Program (NFIP) is facing. Prior to the previous five year commitment, we faced several years of short term extensions and now we are right back where we started with an abreviated extension of the current program which will cease on December 8th, 2017.
We were just starting to assess the damages left behind by Hurricane Harvey at the time that President Trump signed legislation extending the NFIP until December 8th. Part of the legislation included ear marking $7.8 billion specifically for the use of disaster relief and rebuilding in the wake of Harvey. Hurricane Irma had yet to be addressed. Click here to read the entire article.
I anticipate that you will see even more “calls to action” from the Missouri REALTORS® and the National Association of REALTORS® as December quickly approaches. Please take the time when you receive a call to action to respond to the request and let your state representitive know how important this program is to the real estate community and how important it is to find a viable, long-term program to put into place.
Thousands of properties in our area are affected by flood zones. It is clear that we are not immune to the damages that water can cause. Let’s make sure our voice is heard!
For additional information, please click here.
Information provided should not be considered legal advice and all buyers, agents and title companies should consult their attorneys for legal advice.
Cardinal Surveying | Shelly Clark