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Laura Dunlap, Realtor®
217 North Bay Avenue
Beach Haven, NJ 08008
Cell: (609) 290-76860
Fax: (609) 492-2708
Email Laura

Homeowner Flood Insurance Affordability Act Provides Relief for Buyers and Sellers

Posted By Laura Dunlap @ May 12th 2014 9:45am In: Flood Insurance

FEMA's compliance with key components of The Homeowner Flood Insurance Affordability Act will provide relief for both buyer and sellers and make buying a home at the shore more affordable and selling a home at the shore easier.  

Under the Biggert Waters Act, legislation that was passed prior to Superstorm Sandy, when a buyer purchased a home in a flood plan that buyer would have to purchase a new flood insurance policy.  In some cases, the rate increases for the new owners were double, triple, even 10 times and more previous premiums. This made purchasing a home much less affordable and made it difficult for sellers to sell their homes at the shore.  This is no longer the case.  READ MORE


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