Congress extends flood insurance for five years

On June 29, 2012, the Senate and House passed the Flood Insurance Reform Act as a part of H.R. 4348, the Surface Transportation Conference Report. Passage of this five-year re-authorization will bring certainty to real estate transactions in more than 21,000 communities nationwide where flood insurance is required for a mortgage. The entire New York State Congressional Delegation voted in support of the extension. Thank you again to all the REALTORS who participated in the Rally to Protect The American Dream for helping to bring this issue to the forefront. President Barack Obama is expected to sign the measure within a few days. Click here for more information.