Did you know your home could be unprotected in the next 6 months?

On September 30 – only six months from now – the National Flood Insurance Program (NFIP) will expire affecting current property owners who have a policy, and future buyers who might see their closings delayed or even cancelled if the program is not extended.

Since Flood insurance is currently required for a mortgage, without access to the program, some buyers will not be able to get their loans approved which could disrupt sales and destabilize the market as it did already in 2010 when the program expired previously.

As for current policy holders, if the program is not renewed, home owners will not be able to renew or get a new policy issued, leaving their most valuable asset unprotected.

Last year alone claims due to flood surpassed the $4 Billion mark due to hurricanes around the country. Protection is vital. It’s time for Congress to act!

Support NAR (National Association of Realtors) who’s working closely with Congress to make the right thing and pass a long-term reauthorization of the program.