David Knudsen is spitting mad that Congress neglected to re-up the National Flood Insurance Program this June, which means, he says, that homebuyers in high-risk flood zones are out of luck:
Because Congress failed to extend authorization for the program, it expired on June 1st. So for over two weeks now, homeowners needing flood insurance have been unable to get new policies. (Existing policies are still in force.) Home buyers purchasing homes in flood zones using mortgage financing can only close when they have flood insurance in place. Those closings aren't happening because they can't get it.
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