Homeowners worried that new federal flood maps will send their flood insurance premiums skyrocketing would get some short-term relief under a provision tucked into a massive government-wide funding bill.
Some homeowners could be between a proverbial rock and a hard place as they face rising premiums once federal flood insurance subsidies come to a close.
A bipartisan effort is underway in Washington to delay - by 4 years - changes to the national flood insurance program because those changes could push premiums dramatically higher for those living down the Jersey Shore, and near bays and waterways in the coming months.
A bipartisan group of lawmakers Tuesday unveiled legislation that would delay for about four years several changes to the federal government's flood insurance program that are threatening to sock thousands of people with unaffordable premium hikes.
Flood insurance premiums could be on the rise for some homeowners living in vulnerable locations, as more changes to the National Flood Insurance Program go into effect October 1st.
New Jerseyans still trying to recover from Superstorm Sandy and the massive flooding it caused won'tt be happy to learn that National Flood Insurance Program (NFIP) rate increases are in the offing.
After hundreds of complaints by irate New Jersey homeowners who had their Sandy claims rejected, the Hurricane Sandy Rebuilding Task Force is going to review operations at the National Flood Insurance program.
Hundreds of thousands of homeowners facing higher federal flood insurance premiums under reforms passed last year would win a temporary one-year reprieve under a measure that's beginning its advance through the Senate.
New Jersey Congressman Frank Lobiondo unveils legislation aimed at easing the impact of a mandated Federal Flood Insurance Program premium increase on Superstorm Sandy survivors and others rebuilding after flooding in other parts of the country.