Government shutdown presents outsized risk to Florida real estate

The clock is ticking on the federal flood insurance program, and Florida real estate could take the biggest hit if Congress fails to act.  The National Flood Insurance Program, which covers nearly 1.8 million Florida policyholders, is set to expire Sept. 30 unless lawmakers strike a deal to keep the government funded, the Palm Beach Post reported. If the program lapses, existing claims would still be paid, but no new policies could be written, a major problem for closings in flood-prone areas where mortgage lenders require coverage.  That could derail sales across the state’s high-risk coastal zones at the height […]This article originally appeared on The Real Deal. Click here to read the full story.