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Colorado Mortgage & Home Loan Rates improved today. This is primarily due to Greece again. It looks like Greece will missed their deficit target in order to get more bailout money. This is NOT Good for Europe. The EFSF is now looking at 1 Trillion dollars to stabilize Europe. That is…

Today I was in Manheim, Pennsylvania which was particularly hard-hit with the flooding of creeks in the borough. Chris Vogt of Baron Insurance, who are also located in Manheim and actively involved in fielding local insurance questions this week, joined me in one of the affected areas to talk about insurance options to provide different levels of coverage for future water damages. Chris explained that most homeowners policies don’t cover flood damage. There is an additional piece of coverage called “sewer & drain” backup that can help if the water comes up through the sump, drains or sewer lines. Typically this “rider” coverage costs between $50-100 extra to secure. Actual flood insurance, a separate policy facilitated through the government, can be purchased by owners through Baron or other local agencies. (As a side note, homebuyers can expect to be required to purchase this coverage if their new home is located in a FEMA flood plain). While a floor insurance policy in Lancaster County or Central PA can cost as little as $150, the average cost is more like $600 according to the stats. On the other hand, the average claim upon such coverage is $48000! If you’re interested in learning more about water damage coverage options, reach out the Baron Insurance at 717-665-2985 or online at www.baroninsurancegroup.com. You can read more details about post-flood cleanup tips, FEMA assistance applications and much more at these webpages www.lancasterparealestateblog.com www …

HR 5114 will reauthorize and improve the National Flood Insurance Program (NFIP), which is the primary source of reliable, affordable flood insurance coverage for millions of American homes and businesses. The bill includes an amendment by Congressman Scott to allow NFIP premiums to be paid in installments.

The Miller Amendment will require the Government Accountability Office to conduct a study on potential long-term reforms of the program, including: •Ways the private insurance market can contribute to insuring against flood damage. •The impact on the NFIP if communities were to opt out of the program •The feasibility of regionalizing the NFIP based on FEMA’s 10 geographic regions which should result in premiums more reflective of each region’s risk.

Congresswoman Waters delivers opening remarks in support of her bill, HR 5114, the Flood Insurance Reform Priorities Act of 2010. The Congresswoman’s bill reathorizes the National Flood Insurance Program for 5 years, making flood insurance affordable and accessible to millions of home and business owners. The bill passed the House today. July 15, 2010.

Alex talks with Robert G. Rash, a professional land surveyor and engineer. Mr. Rash contends that FEMA is now in the business of underwriting flood insurance policies in order to pay back its $19.2 billion debt incurred from Hurricane Katrina and Rita. www.infowars.com www.prisonplanet.com