NAR Flood Insurance Update: The Senate plans to vote on legislation that would create a 4-year “time out” for both impacted home buyers and future increases on “grandfathered” properties. The Senate Majority Leader has promised the sponsors a vote on S. 1846 Homeowner Flood Insurance Affordability Act which would delay any increases for 4 years; they are currently negotiating the number of amendments and amount of debate time. The bill is expected to come up the week of January 27 if not sooner, and will require 60 votes to move forward.
Posted on: Thu, 16 Jan 2014 13:18:02 +0000