Naples Real Estate News 05/21/08
HOUSING AID
Democrats and Republicans banded together yesterday to push a home loan rescue plan through the Senate Banking Committee on a 19-2 vote, boosting the bill’s chances for a broad election-year housing aid package.
FLOOD INSURANCE
Federal Emergency Management Administration has revamped its 20 percent premium discount rule for flood insurance, which will impact some Florida communities. The new rule stipulates that homes with first-floor living space that is one foot or more below FEMA’s base flood elevation are ineligible for the discount.
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Did this package finally pass? Did bi-partisanship continue to prevail in this effort?
It pass and was signed into law on July 30(?) by President Bush without much fanfare.