July 30, 2018
Thanks to a team of more than 100,000 REALTORS® across the country, including over 400 OKCMAR members, the US Congress has agreed to extend the National Flood Insurance Program for 4 months. While the industry is disappointed that legislation reforming the program has not been passed, it keeps the program alive.
The NFIP affects real estate transactions in more than 20,000 communities across the United States. It is estimated that over 3,000 homeowners in the Oklahoma City Metropolitan area depend on the program.
The NAR lobbying team is continuing its work to push for legislation that will reform and continue the program. Since the agreement only extends the program 4 months, further calls for action in support of the NFIP may be needed. So, stay tuned!
We would like to take this opportunity to applaud OKCMAR members for participation in the Call for Action! The 20% goal was reached 2 weeks ago.