National Flood Insurance Program Expired Tuesday, New Policies and Some Home Loans Halted
The nation’s largest flood insurance program has now lapsed, leaving millions of homeowners in limbo. With the National Flood Insurance Program shut down, new policies and renewals are frozen, putting real estate deals in flood-prone areas on hold and leaving families exposed in the heart of hurricane season. Florida and Texas are expected to feel the sharpest impact, but the ripple effects will reach across the housing market. The lapse highlights both Congress’s gridlock and the growing urgency of reform. Gabriela Aoun Angueira with Associated Press has the full story.
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