Stop the Homeowner Flood Insurance Affordability Act. This act will cause flood insurance premiums to skyrocket, causing foreclosures and destroying communities.
Why is this important?
This petition has been created in an effort to repeal the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12). The rate increases this act will create will cause thousands of foreclosures and completely destroy the real estate market. The negative impact this act will have on communities stretches far beyond what many in our government understand. We have already seen the home values in flood zones plummet to all time lows, and this will only get worse. We are asking that the act be repealed, or that rate increases be deferred until FEMA completes the affordability study mandated by law.
