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 FEB. 12, 2007
National Association of Realtors Wants National Disaster Plan
On February 6, during a U.S. House Committee meeting on the federal housing response to areas affected by Hurricane Katrina, the NAR (National Association of Realtors) urged Congress to develop a "highly coordinated" system that would be able to become operational in the wake of a natural disaster.


As part of their presentation to Congress, NAR commended the House committee for their focusing on the federal response to Hurricanes Katrina and Rita as well as the renewal of important discussions on the need for improved preparedness for natural disasters.

Realtors have done a lot to help the residents of the ravaged areas; they have provided shelter, raised money for victims and built new homes. NAR urged Congress to implement plans now that will help minimize future dangers and damages to residents who live in disaster-prone areas.

A highly coordinated system for remedial assistance and prevention must be developed in order to alleviate the hundreds of millions of tax payer dollars that are spent on disasters after the fact.

NAR says that a comprehensive plan should include the following components:

Improved utilization of HUD-owned homes. Hud homes need to be readily available to give victims of natural disasters a place to live.
Reform (NFIP) the National Flood Insurance Program. Appropriate reforms to this program could help save the government millions of dollars. This would give property owners the opportunity to purchase flood loss insurance protection in exchange for community and state floodplain management regulations.
Provide adequate funding for FEMA's map modernization program. Proper funding would enable FEMA to proceed with a project that would update maps to ensure that flood areas are accurate.
Affordable Natural disaster Insurance. Home owners need to be able to afford insurance on their homes. Inability to do so poses a serious threat to the country's residential real estate market.

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