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Homeowner Flood Insurance Affordability Act of 2014

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25

Mar 2014
 

Great news for current and potential owners of properties in flood zones.  President Obama has signed the Homeowner Flood Insurance Affordability Act of 2014.  Before the bill was signed, homeowners were facing huge increases in their flood insurance bills.  The new law caps flood insurance premium increases and allows below-market insurance rates to be passed on to people buying homes in flood zones with taxpayer-subsidized policies.

 

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