I’ve lived my whole life by the Missouri River in Columbia, Missouri. Whenever I return from out of town, I see the beautiful river, and I know I’m home.
In June, the Missouri River flooded causing residents in four states to run for cover. Today, 4,000 homeowners in North Dakota are grieving the loss and damage to their homes from the Souris River flooding.
Right now, Congress is debating whether to reauthorize the National Flood Insurance Program (NFIP), which expires on September 30th. Markets in many areas will come to a complete standstill unless this program gets reauthorized.
This is the tenth time in three years NFIP has been set to expire. NAR fully supports reauthorizing NFIP for five years. It’s time we stop the band-aid approach and give it a long-term extension.
We’ve posted a Call for Action on RealtorActionCenter.com telling Congress to act now to reauthorize this program before it expires. As you watch the footage of flooding victims on television and wonder how you can help, this is what you can do: Answer the Call to Action and flood members of Congress with letters on this issue.
North Dakota REALTOR® Greg Larson’s message about the floods affecting his property really hit home.
Do you know what happens every time the NFIP deadline nears? Lenders stall closings, adding more uncertainty to our already tentative marketplace. Maintaining available and affordable flood insurance for all Americans is vital to keeping the market running smoothly.
While many think flood insurance is just for beach property, 98 percent of homes covered by NFIP are actually inland. Check out some other myths and facts about flood insurance here. I think one of the most important points is that NFIP doesn’t spend taxpayer dollars. It actually makes money for the government by charging interest.
This is a nationwide issue, and it requires a nationwide response. Please take two minutes and answer the Call for Action. When you do, you’ll be standing up for consumers all over the country who need flood insurance to close on their American Dream. – Elizabeth Mendenhall, 2011 NAR Vice President and Liaison to Committees.