Orlando Mortgage Blog

For those of you owning a home or looking at real estate that is located in a flood zone....

The National Flood Insurance Program (NFIP) is set to expire (again) on September 30, 2011. Congress can re-authorize, but there may be a lag time similar to last year.

IF YOU NEED FLOOD INSURANCE TO CLOSE:

Lenders should allow the closing with a copy of the application as proof that the Buyer has pursued coverage as required. The Lienholder will be listed on the application, and when the NFIP is re-authorized, the application will process and produce the Evidence of Insurance and Declaration… which automatically forwards to the Lienholder.

Rob Owen, Agent

Rob Owen Insurance, Inc | Property Insurance for Closings