Advocacy at the South Bay Association of REALTORS®

National Flood Insurance Program

REALTOR® ALERT: Tell Congress to Reauthorize the National Flood Insurance Program

The National Flood Insurance Program expires on September 30, 2017. Congress has until then to reauthorize it. We are so close! A bill to reauthorize, H.R. 2874, is sitting in the House of Representatives however House leaders haven’t brought it up for a vote yet.

The bottom line? Without action from Congress by September 30, more than 1,300 real estate transactions in the U.S. could fail every single day! Don’t let one of those be yours!

Take Action Now!

Click on the link above to contact your Member of Congress and ask him or her to support the National Flood Insurance Program (NFIP) and bring it to a vote in the House of Representatives.

What is H.R. 2874?

H.R. 2874 reauthorizes the NFIP and makes a number of critical improvements to the NFIP including increased funds for mitigation activities, caps on overall premium increases, improved claim and mapping processes, as well as removing hurdles for more private market participation in the flood insurance market. Reauthorization of the NFIP will help over 5 million homeowners in 22,000 communities around the country, so it is critical Congress acts now.

H.R. 2874 makes a number of critical improvements to the NFIP including increased funds for mitigation activities, caps on overall premium increases, improved claim and mapping processes, as well as removing hurdles for more private market participation in the flood insurance market. Collectively these improvements will benefit both homeowners and taxpayers.

H.R. 2874 would also reauthorize the NFIP for 5 years. Over 5 million homeowners in 22,000 communities around the country rely on the NFIP to provide flood insurance. Without NFIP coverage home sales, in areas where flood insurance is required, will be delayed or even cancelled. The National Association of REALTORS estimates that past lapses of the program have effected as many as 40,000 transactions a month nationally.

Without Congressional action by September 30, 2017, authority for the National Flood Insurance Program (NFIP) will expire. If the NFIP lapses, more than 40,000 real estate transactions per month will be in jeopardy.

Take Action Now!

Act today! Tell other REALTORS® in your office to take action as well. Make your powerful REALTOR® voice be heard!