Flood Insurance Extended

The United States Congress has finally given yet another 3-month extension to the National Flood Insurance Program. So now, thousands of property sales where closings have been in limbo can be finalized.

This is only a temporary fix. The funding for the program will expire again in three months, and Congress will once again have to put together some kind of legislative package to renew the funding for this much needed program.

Historically, funding this program has always been tied to some other funding program -- like an extension of unemployment benefits or some restructuring of the budget.

Given that this is a much needed program, isn't it time that funding for it be made a permanent item in the United States budget? This quarterly game of cat-n-mouse with flood insurance slows down real estate sales and makes prospective buyers more nervous than they need to be.

The National Association of Realtors is supposed to be one of Washington's most powerful lobby groups. Isn't it time they had a few conversations about permanent financing for flood insurance with the powers that be in DC? Let's get permanent funding for the National Flood Insurance Program.

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