Things at Ocwen just went from bad to much, much worse

Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news

Pending home sales surge to highest level in 18 months

Buyer demand boosts sales

Foreclosure: The Movie… (finally!) coming to a screen near you

In new film, neighborhood of foreclosed homes drives man insane
W S
Lending / The Ticker

Flood insurance premiums could rise, FEMA warns

FEMA urges lawmakers to rewrite key flood insurance legislation

flood car

According to the Tampa Bay Times, homeowners may be flooded with more than just water if Congress does not rewrite the Flood Insurance Reform Act. If the act remains unchanged, borrowers could experience a significant rise in flood insurance rates.

Craig Fugate, head of the Federal Emergency Management Administration, said that despite indications that many homeowners could face massive rate increases for their homes in flood prone areas of the nation starting Oct. 1, the Biggert-Waters Flood Insurance Reform Act of 2012 included no provisions for affordability -- and he can't change that.

Source: Tampa Bay Times
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus