Home Sales Jeopardized as Flood Coverage Halted in Shutdown
- Lawmakers rebuke FEMA for halting new insurance policies
- Realtors say 40,000 home closings per month may be disrupted
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Thousands of U.S. home sales are being held up because the federal government shutdown has halted the issuance of new flood insurance policies, a move that lawmakers and a Realtors lobby want overturned.
The Federal Emergency Management Administration stopped issuing new policies under the National Flood Insurance Program during the partial government shutdown, now in its sixth day. FEMA, which oversees disaster response, is part of the Department of Homeland Security.