Flood Insurance Extended Through February

The Defense Department spending bill recently signed into law, included a 2-month extension of the authority for the National Flood Insurance Program (NFIP), according to the National Association of REALTORS®. This gives Congress until February 28, 2010, to continue considering a range of reforms to strengthen NFIP's long-term financial viability. Without NFIP, property owners in federally designated areas across the nation would not be able to obtain a mortgage or flood insurance to protect their property. NAR will continue to work to extend the program until Congress takes up a long-term reauthorization and reform measure.