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Congress continues to negotiate to avoid a federal government shutdown. NAR is working hard to ensure that the National Flood Insurance Program (NFIP) is reauthorized on time, as a lapse would delay the issuance of new flood insurance policies during hurricane season. Read NAR’s latest coalition letter to Congress urging an NFIP extension.
NAR has also prepared the attached Frequently Asked Questions (FAQ) Sheet on what an NFIP lapse could mean for real estate closings and how imperative it is for consumers to renew their flood insurance before September 30, 2023.