Congress has done it AGAIN!
The National Flood Insurance Program (NFIP) cannot issue new policies, increase coverage on existing policies or renew policies. The U.S. Congress failed to extend the program by the March 28 deadline and adjourned for Easter recess until April 12.
Industry leaders are hopeful that the Senate will pass a House bill that would retroactively reauthorize the program during a tentatively scheduled April 12 evening vote.
Any closings of homes that are being sold in the flood area will more than likely be delayed, unless the buyer has already purchased the policy prior to the deadline. Stay tuned!