Senate efforts to extend the National Flood Insurance Program (NFIP), set to expire on February 28, 2010, will continue the week of March 1. Majority Leader Harry Reid (D-NV) tried to expedite but was forced to file a procedural motion to allow a vote as early as Tuesday.
The bill (H.R. 4691) would extend the NFIP until March 28, and includes extensions of employment and COBRA (continuing health) insurance. When the bill reaches the floor, it is expected to pass by a wide margin. NAR will continue to urge the Senate to act and stress the importance of the flood program, without which many consumers would not be able to obtain a mortgage in federally designated flood zones across the U.S.
