The 'Biggert-Waters Flood Insurance Reform Act of 2012', requires FEMA to increase insurance premiums for 6 million homeowners.
Many homeowners will be forced to elevate their home or face significant increases in insurance premiums. These increases will result in bankruptcies and foreclosures. FEMA is providing no support or guidance to homeowners on how to comply with these requirements. Further, there is no federal support for guaranteed loans to assist homeowners in complying with these changes.
This current law is short-sighted and we are requesting the White House to review and put forward measures to repeal the current law in favor of a more balanced approach that will not devastate the financial stability of 6 million Americans due to past FEMA mismanagement.
StopFemaNow