Hudson, Florida -- Lawmakers are digging in their heels in the fight to delay or stop massive flood insurance rate hikes. On Tuesday, Congressman Gus Bilirakisled the Tampa Bay area delegationin sending a letter to Speaker of the House John Boehner urging him to bring legislation to the floor that provides immediate relief to homeowners.
In the letter Congressman Bilirakiswrites:
"The astronomical flood insurance rate increases are putting the economy and housing market's recovery in jeopardy. We support legislation that curtails this pending calamity and request that the appropriate solution be brought to the floor as soon as possible under House rules and practices."
While the rates seemed to have sucked the life out of the housing market, just as it was trying to slowly make a comeback, someare trying their best to keep from drowning under the uncertainty.
In September 2013, 10 Newsintroduced you to Disabled Veteran DavidRiegle. Back then he said,"All I wanted to do was fish - catch my dinner - and hang out in my Jimmy Buffet deck."
He was set to close on his dream house until the whole deal unraveled and turned into a nightmare. Rieglecould afford the mortgage, but it was the flood insurance that proved to be just too much.
"This house is in perfect shape, but what can you do when they want $43,000?" Rieglestepped away from the deal.
Connie Nies represents the seller and says she worked hard to find better flood insurance rates and was able to do so eventually through a private insurer.
"I went into Lloyds of London through my insurance agent and was able to get a quote between 8 and about 9,000."
Despite that, there haven't been any other takers since.
Niesand the seller are now pulling out all the stops, even considering paying some or part of the first year of the buyer's flood insurance policy. They'reopen to just about anything to sell the property.
"We've tried looking into lease purchase as another creative way," she says.
Riegle said back then, "I don't know what the government is trying to do here because these houses are going right back to the banks."
Melissa Taylorcouldn't agree more. She's the seller and says she's never paid her mortgage late and has kept theelectricity on and the pool and yard clean to be a good neighbor.
However, "Due to the Biggert-Waters Act and the inability to sell my house, I'm looking to have a foreclosure on my credit which is almost impossible to overcome," she says.
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