NAR urges Senate to extend flood insurance program

Thousands of loans held up, says trade group

The U.S. House of Representatives voted to extend the National Flood Insurance Program this week, drawing praise from the National Association of Realtors.

Congress allowed the program to lapse on June 1 — the same day hurricane season began. Without an extension, the program could issue no new policies, thereby delaying or cancelling thousands of home sales across the country.