About 270,000 Florida properties could face huge flood insurance rate hikes. Over 30,000 in Pinellas County alone.
That’s why I created a petition to The Florida State House, The Florida State Senate, and Governor Rick Scott, which says:
“The Biggert-Waters Flood Insurance Reform Act of 2012 will be devastating to the economic recovery and stability of our community. tens of thousands of homeowners will be adversely affected by the rate hike scheduled for October 1, 2013.
Our community is still recovering from the devastating effects of the mortgage crisis. Thousands of homes are still vacant after years in the foreclosure process. If these rates go into effect, it will make the purchase of these homes, and thousands of others almost impossible, adding to the plight of our community. In addition, many homeowners will be unable to finally make needed updates and repairs because of the inability to refinance. This will not only have adverse affect on property value, but on the construction services and products industry as a whole which many experts agree is the driving force of our economic recovery. If tens of thousands of homeowners can not sell, can not refinance, or remodel without triggering a triple insurance rate increase, the overall impact on our regional economy will be detrimental. We implore you to defer this rate increase for one year while a feasible and economically sound solutions can be determined.
Concerned Florida Resident ”
Will you sign my petition? Click here to add your name:
Posted on August 21, 2013 at 6:45 pm by Rob Littke