WASHINGTON, D.C. – June 23, 2011 – (RealEstateRama) — The National Association of Home Builders (NAHB) today expressed support for a five-year extension of the National Flood Insurance Program (NFIP) to ensure that the federally-backed flood insurance program remains efficient and effective in protecting flood-prone properties and creates more stability in the housing market.Testifying before the Senate Banking Committee, Barry Rutenberg, first vice chairman of NAHB and a home builder from Gainesville, Fla., told lawmakers that because the NFIP has had to undergo a series of short-term extensions over recent years, it has created a high level of uncertainty in the program and caused severe problems for the nation’s already troubled housing markets.
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