Posted By: HRH Okie Banker
Flood + Expiration + Congress - 11/30/18 03:18 PM
The news says "With authorization for the National Flood Insurance Program set to expire at midnight tonight, both houses of Congress last night passed a seven-day extension of the program through Friday, Dec. 7. The Senate also passed a six-month extension bill. A longer-term NFIP reauthorization is expected to be attached to a spending bill that must be passed by Dec. 7 to keep the government open."
Does the expiration mean we can't close/fund any loan requiring insurance since it can't be purchased? What about private insurance companies? Can they sell flood insurance? Any info in this area would be helpful. This must not have happened in a while. I couldn't find anything in the search function but I know we've been thru this before. Thanks
Does the expiration mean we can't close/fund any loan requiring insurance since it can't be purchased? What about private insurance companies? Can they sell flood insurance? Any info in this area would be helpful. This must not have happened in a while. I couldn't find anything in the search function but I know we've been thru this before. Thanks