[Download] "On Arks and Lifeboats (On the Level)" by N. Stephen Ruchman ~ eBook PDF Kindle ePub Free

eBook details

Title: On Arks and Lifeboats (On the Level)
Author : N. Stephen Ruchman
Release Date : January 31, 2010
Genre: Industries & Professions,Books,Business & Personal Finance,
Pages : * pages
Size : 45 KB

Description

It's a good thing Noah built an ark and didn't rely on Congress to protect him from the flood. As I write column, it seems that only an act of God could get our representatives in Washington, D.C. to do the responsible thing. As I file this story, the Senate has just voted to extend the National Flood Insurance Program to Sept. 2011, after weeks of anxiety for homebuyers during hurricane season. I'll forgo the obvious analogy of Congress as a bunch of animals, but the neglect they demonstrated by failing to extend the National Flood Insurance Program in a timely manner and by placing homeowners at risk during the hurricane season is simply irresponsible. Less than two weeks ago, the Senate voted down a package that included a NFIP extension--the fourth time this year our national lawmakers have allowed the NFIP to slip into lapsed status. Although consumers with current flood insurance policies remained covered, new policies could not be issued while NFIP lapsed. The economic impact of this recurring issue is clear and urgent: During this tenuous economic time, when the real estate market needs nurturing, not obstacles; property transactions are held up as mortgage lenders require proof of flood insurance. A lapsed NFIP leaves agents and carriers unable to write new policies, delaying and even preventing closings for our clients. Even though the Senate passed another NFIP extension, those who need a new policy still will have to wait an additional 30 days, per the required waiting period.