At the same time that parts of New England are threatening to float away from record-breaking floods, Congress allowed the National Flood Insurance Program to expire for the second time this year. As legislators won’t be reconvening until April 12th, the program looks likely to sit in limbo for a couple of weeks (at least).
The Times-Picayune points out that the timing is horrible for other parts of the country as well. Would-be homeowners across the nation who are in the final steps of purchasing homes in a mapped floodplain need to secure flood insurance to qualify for mortgages. Unable to do so, many can do little but wait and hope that the terms of their sales hold until Congress reauthorizes the program.
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