Make no mistake about it. Although the most recent legislation the Homeowner Flood Insurance Affordability Act of 2014 gives those of us who pay flood insurance some relief, it is only temporary. Within 4 years we will be paying full rates with NO subsidies from the government. This means for a typical home in Warfleigh, you could be paying $8,000 – $10,000 or more for flood insurance per year! This will be devastating to individual homeowners and the neighborhood as a whole. Can you(we) afford this to happen? Read more about the Homeowner Flood Insurance Affordability Act HERE and HERE
2 thoughts on “Homeowner Flood Insurance Affordability Act of 2014”
I live at 6248 N Delaware, Do I still have to pay flood insurance??
Hi! Please see the most recent posts in this thread. If you have a mortgage, and if your lender requires flood insurance, then you likely will have to keep paying until spring 2023