The Homeowner Flood Insurance Affordability Act, S. 1926 Passes Vote in the Senate!


Mt Hood has many rivers and streams that are susceptible to Flooding and the recent enactment of the Biggert-Waters Act that went into effect last October 1, 2012 has left many not knowing what the future holds. “On January 30, 2014, the US Senate passed S.1926, the Homeowner Flood Insurance Affordability Act, on a vote of 67-32. Support for this bill included several Republican Senators from the coastal states of Louisiana, Mississippi, Georgia and Florida, suggesting that Congress may yet enact additional modifications to the flood insurance program this year. Action in the House is not yet assured, but there are indications that the House will consider a modified version of the Senate proposal.” per the Dentons on-line publication, Kara  Baysinger, Gary L. Goldberg, Mary Pat Lawrence and Sander  Lurie contributors.

Also,  the National Association of Realtors (NAR) released this exerpt, “This legislation will help homeowners nationwide who are experiencing financial hardship as a result of extreme flood insurance rates that are the unintended consequence of the Biggert-Waters reforms to the National Flood Insurance Program” ,  per Jenny Werwa for the NAR.

Kudos to both Senator Jeff Merkley and Senator Ron Wyden of Oregon to their yes votes. On the  House of Representatives where we hope gridlock is not their middle name in 2014!