Feds Shut Down Mandated Insurance Program – Leave Homebuyers Stranded

It is no secret that I hate government involvement in business. They just mess things up.

Now we have the shutdown of the federal flood insurance program. Federal law requires that you buy flood insurance when you borrow money on a building in a flood area.

So, for at least the next three weeks nobody will be able to buy a home using a bank mortgage if their home is in a flood zone.

Current policies and claims on current policies are not affected, supposedly.

These are the same people who want to run our health insurance.