The current funding for the National Flood Insurance Program expires at midnight December 16, 2022. On the evening of December 14, the House voted to continue funding for one week. The Senate is expected to pass the bill today and send it to the President for signature. Then we will go through the same mess again next week.

For one week loans may be closed with appropriate flood insurance in place. We suspect that next week we will get a longer extension, perhaps six months, or, if we are lucky, a full twelve month extension.

In the event Congress allows the program to lapse, for any period beyond a few hours, we will publish contingency plans that explain possible options to continue funding loans secured by buildings located in special flood hazard area.

Stay tuned.