Pro-consumer real estate & mortgage broker that exposes reality! Fred has been in the industry for 30+ years and is a frequent guest on CNBC.
Trump Proposes Flood Insurance Increase to Fund Mexican Wall
Unfortunately, I have been involved since 2012 in helping the people affected by Hurricane sandy get the money they deserve along with stopping the madness of the flood insurance industry and government agency destroy people’s lives.
The people I have dealt with, especially George Kasimos have been put into a situation that has them fighting Goliath times seven. Now, the President that most of them voted for is making it worse.
Besides the flood maps being changed, policy prices skyrocketing and the deft ears of FEMA, they are now getting screwed with their pants on again!
There is a proposal in Congress trying to have NFIP Flood Policy Holders across the country pay a surcharge to help loosen up federal funds to pay for President Donald Trump’s proposed border wall with Mexico, according to budget documents detailed in reports by The Washington Post and Politico.
There are a few problems with this proposal;
The NFIP is already drowning in 25 Billion Dollars in Debt (due primarily because of NFIP mismanagement).
Flood Insurance premiums are already unaffordable and will continue to skyrocket, adding a “surcharge” will force many more to lose their homes.
What valid reason would NFIP flood policy holders be singled out to bear a larger burden of the cost of the wall.
Taxing a particular segment of the population would be unfair. Everyone across the country would equally need to bear the cost.
Senator Menendez or New Jersey correctly stated “It is outrageous to rifle through the pockets of Sandy survivors/ NFIP Flood policyholders, who can barely afford to stay in their own homes to pay for a wall along the Mexican border,”
With certainty we can state that 99% of StopFemaNow members and virtually all Flood Policy holders across the country are against this “surcharge”.
The Asbury Park Press conducted a survey of all New Jerseyans, and the question was;
“Do you approve of a surcharge on flood insurance policies to help pay for the border wall with Mexico?”
91% voted against the surcharge!
CLICK ON THE LINK TO READ THE FULL STORY BELOW AND VOTE !