Senate Majority Leader Harry Reid does not want anyone messing around with a Food and Drug Administration Bill that the Senate is working on this week. So, Senator David Vitter of Louisiana, who is leading the fight for flood insurance reform, has agreed not to put the flood issue onto Senator Reid?s FDA bill if the Senate takes up the discussion of flood insurance during June.
I think we can look to see the National Flood Insurance Program being extended, yet again, for a 30 to 60 day extension so there will be no lapse in the program.
Home sales and mortgage financing will come to a grinding halt if the program is allowed to expire.
Not the smartest thing to do with this temperamental real estate market, let alone the state of the hurricane season.
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