National Flood Insurance to Expire Mid-Monsoon Season
Thousands of Arizona homeowners will soon be at risk if Congress allows the National Flood Insurance Program (NFIP) to expire on July 31st, right in the middle of monsoon season.
The National Association of REALTORS® )NAR) has kicked off a Call For Action to mobilize all Arizona REALTORS® to flood Congress with messages urging them to renew the NFIP before it’s too late.
NAR has long supported a modernization of the NFIP to strengthen it in the long run with improvements to mapping flood plains, as well as encouraging a private marketplace for comparable flood insurance coverage.
Arizona has a greater amount of area in flood plains than any other non-coastal state, and every year we see communities and families impacted by flooding.
The National Weather Service predicts that 2018 will have a wetter monsoon season than usual, which means even more homes could be affected this year. Because of Arizona’s unique geology, it only takes a couple of inches of rain to create serious flooding problems.
A failure to reauthorize the NFIP could negatively impact home sales as well, making it incredibly difficult to secure financing for home sales. The last time the NFIP was allowed to expire, an average of 40,000 home sales across the country were stopped each month.
Please join the Arizona REALTORS® and NAR in letting our members of Congress know they need to reauthorize the NFIP now by clicking here!
Making your voice heard is as easy as ever by signing up for the REALTOR® Party Mobile Alerts, which allow you to respond to Congress through a simple text message. Simply text “30644” from any phone to enroll.Tags: flood, flood plain, flooding, NFIP