Homeowners all along the Massachusetts coast are staring down steep flood insurance rates thanks to the Flood Insurance Reform act.
But lawmakers are working to ease the pain with rollbacks, including one passed in the House last week that will allow sellers to pass along subsidized rates to new buyers.
And a bill on the Statehouse floor today would tie flood insurance levels to outstanding mortgage balances.
- "State lawmakers are considering a proposal aimed at softening the impact of new federal flood insurance rules on many coastal homeowners."
- "The House approved legislation Tuesday night to roll back a recently enacted overhaul of the federal flood insurance program, after homeowners in flood-prone areas complained about sharp premium increases."
This segment aired on March 12, 2014.