Real estate closings in flood areas will be allowed to close again — at least for the next 30 days!
Late yesterday the Senate moved forward and approved H.R. 4691. The President signed the bill last night. This bill includes a 30 day extension of the National Flood Insurance Program (NFIP). This means that the Federal Emergency Management Association (FEMA), which manages the flood program is now open to receiving and issuing new business.
We will continue to monitor this situation, as it truly does effect the real estate industry and you as buyers and sellers.