If the House of Representatives fails to pass the 60-day extension for flood insurance that has already passed the Senate, the National Flood Insurance Program will not be able to issue new policies after May 31. The House did pass a 30-day extension of the bill earlier, but in gridlock fashion the House is weary of the Senate’s dictates on other legislation. NationalMortgageNews tells MHProNews.com the Senate measure included a provision that increases flood insurance premiums on vacation and second homes over a four-year period. It’s not certain the House will agree with that addition to the extension.
(Photo credit: TheAdvocate/Zack Gray)