FINALLY!!! For those in our area that work the direct coastline like Galveston, Brazoria, Chamber & Jefferson County this is a much needed “bill.”
The U.S. Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. The House already passed the legislation so this will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension. An estimated 14,000 closings per day had been stalled because of the lack of availability of flood insurance under the program.
Flood insurance extended again and is retroactive
July 1, 2010 By Leave a Comment
