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Home » Store » Taxable » CMC Proposes Retroactive Insurance for Katrina Victims; Unofficial Plan Intended to Preserve Gulf Communities

CMC Proposes Retroactive Insurance for Katrina Victims; Unofficial Plan Intended to Preserve Gulf Communities

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The Consumer Mortgage Coalition has floated a proposal to help homeowners and mortgage lenders deal with property damaged by Hurricane Katrina that was not covered by federal flood insurance, but it is far from clear that the plan will enjoy widespread support. The plan, which the industry group distributed in draft form last week, would provide homeowners in the New Orleans area whose properties were flooded with retroactive insurance from the National Flood Insurance Program.…
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