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SP Group research featured on CBS Houston

KHOU 11 Investigates teamed with SP Group on a segment identifying the impact on the Texas housing market should the National Flood Insurance Program lapse. We found nearly 216,000 homes in Texas sit in floodplains. Nearly half of those, or 105,000 homes, are in the greater Houston area.

The clock is ticking toward a deadline that would impact thousands looking to buy or sell homes across the Houston area.

 

On Dec. 8, the National Flood Insurance Program (NFIP) was set to expire. Thursday, the Senate passed a two-week spending bill to avoid a government shutdown, allowing an extension on the NFIP.

 

In the simplest terms, if the NFIP expires, virtually no homes in any floodplain could be bought or sold, if that deal involves a mortgage company.

 

View the full story and watch the video here.

 

 

 

 

 

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