National Flood Insurance Program is Back for Now

Congress took a step in the right direction last week and acted on the bill that extends the National Flood Insurance Program.  Buyers and sellers throughout the nation, many right here in Houston and Katy, were left in limbo when the program was allowed to lapse prior to Congress leaving over Easter.

Without the program, reasonably priced flood insurance was unattainable, and many transactions were up in the air until legislators came back to work.  This program was lumped together with the bill that addressed unemployment benifits, a highly contested issue, and consequently was delayed when our representatives could not come to an agreement on key issues.

While the correct steps were taken to extend the program, they are only baby steps.  The program has been extended until May 31st, 2010.  Unless another extension is approved, many homes sales in Katy and throughout Houston will be affected.

I found this article in the LA Times very informative.  It highlights some of the issues revolving around the National Flood Insurance Program.  Take a look and, as always, give me a shout if you have any questions or concerns.  The Jones Team works with a group of professionals in the insurance industry, and they are always willing to help.


Stacy is a licensed REALTOR® and the team leader of The Jones Team, a group of REALTORS® in Katy, who work together to provide exceptional service for their clients. Stacy and his team specialize in the areas west of downtown Houston. These incredible real estate agents can help you buy or sell a home in locations such as Katy, Cypress, far West and Northwest Houston, Richmond, Fulshear, Sugar Land, Spring Branch, Memorial, Spring, Tomball, The Woodlands, and Magnolia. Whether you are in the market to sell a home, buy a home, have a question about home appraisal value, need advice about home staging ,or have any other real estate related questions, Stacy and The Jones Team are available to help.

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The information herein is furnished by the owner to the best of his knowledge, but is subject to verification by the purchaser, and agent assumes no responsibility for correctness thereof. The offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice. In accordance with the law, this property is offered without regard to race, creed, national origin, disability or gender.