The National Academies of Science has estimated that 50% of homes situated in a flood zone, that have a federally backed mortgage, and are required to purchase flood insurance – DO NOT.

 

Conservative estimate would be as follows;  2.5 million flood policies paying $1,000 a year would equate to an additional 2.5 billion dollars in yearly income to the NFIP program.

 

This additional revenue would help bring the NFIP program to solvency in a timely manner.

 

 

 

 

During Biggert – Waters 2012 the fine to the bank was $250 per incident of not carrying mandatory flood insurance.

After HFIAA – The fine to the bank was raised to $2,000 per incident of not carrying mandatory flood insurance.

2017 NFIP Reauthorization – We suggest raising the fine to $5,000 per incident and suggest stronger enforcement of the fines.

 

 

Read Reason #1 , Reason # 2 , Reason # 3 and Reason 4 here

Please share this email to fellow flood policy holders and elected officials in your community.

 

Join our Facebook Page  and Facebook Group ,  Follow and Retweet us on Twitter .  Join our YouTube Channel.  Sign up for our Emails and Newsletter

Like this article? Chip in $5

Leave a Reply

© 2019 Stop FEMA Now | Sitemap | Privacy Policy | Contact Us | Site by ABQ Designs

css.php

Sign up for our Email List

Enter your email and stay on top of things.

Name:

E-mail: