As many of us know and realize, the National Flood Insurance extension was going to end on September 30th, 2010. Well, it has finally been extended until September 30th, 2011.
Most reports online are reporting that the Senate has approved the extension and that they are awaiting on the House to approve the Bill. But there were no news updates on what happened with the house, at least from what I could find.
Well, here is the official time line on both the Senate and the House approving the Flood Extension until September 30th, 2011. Please read : Bill Summary & Status -
This is great news because not only has it held up many settlements in the past, and not knowing what would have happened this time around, but that the Hurricane season usually goes into November. If anything major would have happened, who knows the extension messes that would have been created. Hey, it's been passed, just waiting on the President's signature.
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Copyright © 2011 by Jeff Belonger of Infinity Home Mortgage Company, Inc
We're in business for another year. I hope they do a permanent fix for this system some time in the near future.
Thanks for the update Jeff. That's one less uncertainty in this crazy market.