Greeting Oklahoma REALTORS®!
Can you believe it is already February? I hope 2014 has started off strong for you. It has been a busy first month in Washington DC. I want to update you on a couple things RPAC has already done for you in 2014.
On Thursday, January 30, the U.S. Senate passed the Homeowner Flood Insurance Affordability Act. This legislation calls for a four-year time out on rate increases triggered by a property’s sale, a flood map update or a property with previously grandfathered rates. The vote sends the measure to the House for consideration (the House version of the bill currently has 181 cosponsors). NAR will redouble its efforts to encourage house leadership to bring the legislation to a vote and may need your assistance along the way. Watch your email for a Call for Action.
NAR has been working with Congress for the last three years to ensure rural communities continue to have access to rural housing programs. Programs like the Rural Housing Section 502 loan program are instrumental in providing opportunities for homeownership for these families. Section 502 loans can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. These loans are funded by private lenders, and simply insured by the RHS. The Section 502 program is self-funded and budget neutral, meaning that broadening the population definition will not place additional financial burden on American taxpayers. Last week, the House passed the compromise FARM bill conference report (The Agricultural Act of 2014) and the Senate is expected to pass it this week. The FARM bill includes language that will again grandfather communities through the 2020 census and also increase the population threshold for existing communities to 35,000 (from 25,000).
These two bills have a huge impact on how we do business in Oklahoma and we would not have had the success we have had with them without your investment in RPAC. If you have ever had a buyer who needed flood insurance or a buyer who used rural financing, please invest in RPAC today. Click here to invest online.
There are more issues just like these we need to work on this year. Your RPAC investments help pave the way for positive legislation to be successful, lowering barriers for your job and improving the climate for property owners.
Thank you all!
Kathy Fowler, CRS, GRI, e-PRP
HomeSellers Real Estate, LLC
Call or text: 580-278-4095