FEMA’s new Flood Insurance Rate Maps have caused a lot of confusion and questions. Their impact on real estate values on Cape Cod is huge. Sales and refinances are being lost, and most people aren’t quite sure what will happen next.
Congressman Bill Keating has proposed legislation requiring FEMA to reevaluate their flood maps, and better analyze the maps’ economic impact. This may slow down their implementation for several years.
What exactly is the situation? Will flood insurance rates increase right away? Should home owners near flood zones be concerned? How will home repairs and improvements affect my insurance rates? Must homes in flood zones now be built above the flood plain?
Get answers directly from Congressman Keating next week, February 20. Here’s more information on his presentation in Bourne:
Congressman Keating announces FEMA Flood Insurance Information Session
Congressman Keating announces FEMA Flood Insurance Information Session