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How Harvey could speed short-term flood insurance fix

House Financial Services Committee Chairman Jeb Hensarling

The massive flooding in Texas from Hurricane Harvey is sure to put pressure on lawmakers to resolve differences over the National Flood Insurance Program, but observers say a short-term reauthorization of the program before a Sept. 30 deadline is still the most likely scenario.
The House Financial Services Committee passed measures earlier this year to reauthorize the NFIP but that would aim to cut the program’s debt by shifting more policy holders to the private market. Panel Chairman Rep. Jeb Hensarling, R-Texas, has also made it known he would be open to winding down the program altogether.
The National Association of REALTORS® has issued a nationwide Call-for-Action asking that all REALTORS® urge Congress to reauthorize the National Flood Insurance Program (NFIP) before its current authority expires.

About Community Real Estate

Community Real Estate is a Real Estate Company committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!
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