As part of the just-passed continuing resolution to keep the government open, the National Flood Insurance Program now won't expire until March 23, 2018.
While the legislation only extends government operations for six weeks – including NFIP – Congress agreed to some long-term changes, including $90 billion in assistance for post-hurricane cleanup in Florida, Texas and Puerto Rico.
While the national flood insurance program isn't a direct part of federal funding, its future has been tied to it recently because the flood insurance extension has been voted on alongside the larger spending packages.
For at least the next six weeks, however, homebuyers and sellers in flood zones can stop worrying about the loss of flood insurance derailing their transaction.
© 2018 Florida Realtors®