CNBC: “A ‘Man-Made Disaster’ Could Make It Trickier to Buy or Sell a Home in Some Areas This Fall, Real Estate Expert Says”
RFF Fellow Penny Liao comments on the reauthorization of the National Flood Insurance Program.
If your flood insurance policy’s renewal or expiration date is around Sept. 30, try to renew it early, said Yanjun Liao, an applied microeconomist and fellow at Resources for the Future, a nonprofit research institution in Washington, DC.
“Check the expiration date and make plans in advance,” said Liao, whose research focuses on natural disaster risk management and climate adaptation.
Homeowners considering refinancing an existing mortgage may also want to weigh the timing with the Sept. 30 reauthorization deadline in mind, if their lender has required flood insurance coverage.
