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Flood Insurance to Expire Again on 5/31/2010

Posted By Randall Sandin @ May 17th 2010 7:11pm In: Real Estate News

Please be advised that the temporary funding for the National Flood Insurance Program will expire yet again on 5/31/2010.  New flood insurance policies and increases to existing policies may not be available unless congress reauthorizes the program.  We've been though this cycle twice already this year and policy availability has had a temporary lapse both times and can possibly delay closings.

If you are planning a closing after 5/31/2010, we HIGLHY ADVISE YOU to get your flood insurance applied for and paid prior to 5/31/2010.  You can make your date of coverage effective for your actual closing date.  By paying for the coverage prior to the expiration of NFIP funding, you will guarantee availability of your flood insurance. 


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