On Jan. 30, 2014, the United States Senate voted 67-32 to approve the Homeowner Flood Insurance Affordability Act (S. 1926), sponsored by Senators Menendez (D-NJ) and Isakson (R-GA).
Senate Passes Flood Insurance Rate Hike Delay Bill, Calls For 4 Year Timeout On Rate Increases
I STRONGLY BELIEVE AND EXPECT HOMES IN FLOOD ZONE TO DECLINE IN VALUE FROM NOW ON.
Senate passes Flood Insurance Delay Bill…..BUT, I WOULD NOT Buy A Home In Flood Zone and if you own a home in Flood Zone, you should consider selling it before 4 years is up Because the Federal Gov. can’t afford to keep rates artificially low after 4 years. Remember, Flood Insurance Rate Hikes adding $3,000 to $5,000/year or more to your house note payment, or an extra $250/month to $417/month potentially.
See on www.realtor.org