New York, NY – December 2, 2010 – (RealEstateRama) — Yesterday, United States Senators Charles E. Schumer and Richard Durbin (D-IL), introduced a five-year moratorium on the requirement that New York homeowners purchase expensive new flood insurance policies if they live in a community designated as a flood zone since September 30th, 2007. Schumer has been highly critical of Federal Emergency Management Agency (FEMA) flood mapping techniques and has been pushing the agency to go back to the drawing board to devise a flood map plan that reflects the on-the-ground realities of communities now being impacted by new flood elevation requirements.
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