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'Homeowner Flood Insurance Affordability Act' Aims to Keep Prices Low After Sandy

State resolution is urging support of federal bill

From the Office of Assembly Republican Chris A. Brown:

Assembly Republican Chris A. Brown today voted to support a resolution urging Congress to protect local families from skyrocketing insurance increases.

A member of the Assembly Financial Institutions and Insurance Committee, Brown, R-Atlantic, voted in favor of the resolution to enact the federal “Homeowner Flood Insurance Affordability Act,” which received unanimous backing from the committee.

“Congress needs to move quickly to save homeowners from skyrocketing flood insurance rates,” said Brown. “Many New Jersey residents whose lives were turned upside down by the devastation of Super Storm Sandy now face a different kind of threat: Exorbitant rate increases that make their homes too expensive to hold on too, but impossible to sell.”

The resolution, AR-208, urges Congress to pass, and the President to approve, the “Homeowner Flood Insurance Affordability Act of 2013,” which would effectively delay the implementation of substantial rate increases for four years or longer. The federal Act calls for the Federal Emergency Management Agency to complete an affordability study and propose a framework that addresses affordability issues.

“Government should not price families out of the homes they’ve worked a lifetime to build,” said Brown. “Families are still in the process of paying to rebuild and raise their homes. To hit these families with sharp premium increases now would drive them from their homes.”

“I applaud Congressman Frank LoBiondo’s leadership on this issue,” said Brown. “It is in New Jersey’s best interest for the Legislature to express its support for him and the sponsors of the federal bill.”

Chuck Cumella December 13, 2013 at 07:27 AM
It is imperative for hundreds of thousands of families to have this bill pass through the floor. Currently there are two senators that are blocking the vote for this bill to pass. We can not allow the government to force families out of their homes. FEMA has done a poor job at executing this change due to biggert waters act. Stop FEMA now is an organization that is out there to make this change occur and help anyone who could possibly be facing exhort mid flood insurance premiums. Go to www stop FEMA now , com for additional details.
Chuck Cumella December 13, 2013 at 07:28 AM
FEMA = federal extortion money agency
suzanne December 13, 2013 at 08:01 AM
my 89 yr. old low income, disabled mother cry's everyday over this. She asks if you could PLEASE, PLEASE have a heart!
Chief Wahoo December 13, 2013 at 08:22 AM
It's going to be about as affordable as healthcare in the Affordable Health Care Act. The middle class is being decimated and its on purpose. Their are no Patriots left.....they have all become soft, fat and stupid ....
carol jones December 14, 2013 at 04:00 PM
it will make it impossible to sell your home eto anyone who needs a mortgage and is required to have FEMA coverage
Chief Wahoo December 14, 2013 at 04:52 PM
Carol. You can always sell all houses to a bunch of Chinese millionaires who are willing to pay CASH ..200% over assessed value with all those fiat dollars we have been sending to them for cheap worthless plastic....See no problems..... Wait, that's BIG PROBLEMS !!!!!!!.....foolish Americans :(

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