Posted by: RAPV | March 27, 2014

President Obama Signs Law Curbing Flood Hikes

NAR-backed legislation limiting how much flood insurance premiums can rise per year was signed into law last week. Premium hikes are limited to 25 percent a year and the federal government must reimburse homeowners who have seen excessive premium hikes. The law also takes aim at inaccurate rate hikes. The entire MA congressional delegation supported the legislation. In a statment, NAR President Steve Brown thanked REALTORS® for their 300,000 letters to lawmakers urging passage.

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