SIGNED: FLOOD INSURANCE BILL TO PROVIDE RELIEF IN NJ

President Barack Obama signed a new federal bill into law that gives a huge break to coastal property owners in our area who faced staggering increases in their flood insurance rates.  Flood insurance rate hikes will be capped at 15 percent and may provide refunds for people who were hit with high insurance premiums.  Congressman Frank LoBiondo championed big changes in the Biggert-Waters Act after word spread about the devastating impact it would have on the local real estate market along the Jersey Shore.