Federal Flood Insurance closed - for now

The Senate's side of the Capitol Building in DC.Image via Wikipedia

Due to Congress adjourning April 12th without extending the National Flood Insurance Program, NFIP, the flood insurance program's authority to write new policies expired after midnight on March 28th. It seems the agreement to continue the program was attached to legislation pertaining to unemployment benefits, which was blocked in the Senate from being voted on. As of right now, if you are pending the closing of a mortgage related to the purchase of real estate requiring flood coverage you are out of luck. This same situation occurred at the end of February and the program was closed until renewed by Congress on 3/2. Hopefully Congress will act on this quickly and reinstate the program retroactively to the current expiration date.
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