Flood Insurance Awareness
If you have a waterfront home on Cape Cod or are in the market to purchase a home on Cape Cod that is Waterfront or within a flood plain, you should be aware of some recent changes to Flood Insurance policies.
Congress has mandated federally regulated or insured lenders to require flood insurance on mortgaged properties that are located in areas at risk of flooding. FEMA controls the flood maps and can make changes to the maps at anytime. This is something to be aware of when purchasing a property in a flood plain. The rate you pay in flood insurance can fluctuate if FEMA makes any changes.
The Omnibus Budget Bill
On March 23rd, 2018, President Trump signed the Omnibus Budget Bill which extends the National Flood Insurance Program (NPIF) until July 31st.
For more information about changes to the national flood insurance policy, see FEMA, https://www.fema.gov/national-flood-insurance-program/national-flood-insurance-program-reauthorization-guidance
Coastal Point Properties has teamed up with local Insurance Companies who are familiar with the types of flood insurance needed to purchase a waterfront home or a home within a flood plain. Please don’t hesitate to reach out to us with any questions you may have, we would be happy to help!
Services Provided by Coastal Point Properties
In addition to selling Real Estate, Coastal Point Properties has a team of experts that work with us, hand in hand to make sure YOU, our clients are provided with the best services available. This includes Mortgage Lenders, Real Estate Attorneys, Insurance Companies, Property Managers , Interior Designers and Stagers, General Contractors, Home Maintenance Repair Companies, Electricians, Plumbers, Landscapers and more.
All it takes is one call, for all of your Real Estate Dreams to come true on Cape Cod!
