Flood insurance

The National Flood Insurance Program, estimated to cover over 4 million homeowners, is set to lapse next Friday along with the federal budget.

Southeast homeowners affected by the storms last fall submitted a combined over 78,500 flood insurance claims to the National Flood Insurance Program.

The FEMA-operated program has over 4.7 million policies in force, and lawmakers have kept it intact via dozens of short-term extensions since 2017.

Financial profiles of borrowers in the coastal areas where insurance coverage is required vary significantly from at-risk homeowners inland, CFPB's analysis found.

Homeowners in areas affected by Hurricane Sandy have already seen growth in their property values lag behind the national median.

Mortgage professionals are focusing on housing policies and the Federal Reserve this November.

Flood maps, which designate areas where mortgage borrowers must buy policies are often out of date and don't focus on the danger of rain-caused issues.

Over 4 million residents in the region, both coastal and inland, face dangers similar to residents in Hurricane-weary Florida, Louisiana and Texas.

The incidence of at least four flood insurance payouts totaling $20,000-plus, or at least two totaling more than the building's market value, is growing.

The disaster underscores Americans' dangerously low levels of flood insurance coverage, especially away from coastal areas.