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Flood Insurance Increased Rates

Something that is heavy on my mind this morning is the flood insurance rate hike. As a real estate broker and real estate investor I am going to be affected in many ways. The Biggert-Waters Reform Act of 2012 that was passed by congress and signed by the president extended the National Flood Insurance program for another five years but in order to have a reliable long term program to protect one from flood damage, some changes must happen. Hurricane Katrina in 2005 put the program in debt for $17 Billion and … [Read more...]