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Flood Preparedness News – In Santa Fe, New Mexico and the U.S.

July 6, 2012

The national and state news have been filled with updates on devastating wildfires and its effects on people, real estate and the environment. Along with the fires are concerns of flooding of the burned out areas. Governor Martinez has declared a State of Emergency throughout the State of New Mexico for the potential threat of flooding in areas affected by this year’s and last year’s wildfires. This has allowed a release of resources available to New Mexico to mitigate the loss from flooding in our state.

There is national legislative news that will also protect the Santa Fe area homeowner from losses due to flooding. Congress has passed, and President Obama is expected to sign a 5-year extension to the National Flood Insurance Program.  To current home buyers, this is positive news, especially if your mortgage requires that you purchase flood insurance.

The program, which has been granted many short-term extensions since 2008, was set to expire July 31, 2012. The 5-year extension will allow more confidence to lenders, home owners and prospective home buyers, and hopefully give more stability to the national and local real estate markets.

There are some changes in the program, such as premium caps, so affected home owners or prospective home owners should be sure to research in more detail. For more information or questions about the Flood Insurance Program, visit the NFIP website or call 1-888-379-9531.

The FEMA Flood Information Portal website can provide you with local flood maps Santa Fe, or contact me for more information about a particular property in the Santa Fe area.

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