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Old 03-05-2014, 10:51 AM
 
Location: Long Island
9,933 posts, read 23,163,762 times
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This should help homeowners with waterfront homes and in flood plains--at least somewhat:

Flood insurance bill wins U.S. House passage | Reuters

No delay in hikes, but at least stated limits on hikes.
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Old 03-05-2014, 11:10 AM
 
4,698 posts, read 8,764,254 times
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The legislation also instructs the Federal Emergency Management Agency to have "an affordability target" that would seek to limit the cost of a flood insurance policy to 1 percent of a home's total coverage amount.
if this is legit, it's good news as well. Never made sense to charge 20k-30k (not a typo) for a policy that maxes out at 250k.
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