In what likely will be a boost to home sales, the Federal Emergency Management Agency (FEMA) has repealed a provision of the 2012 Biggert-Waters law that made it impossible for new home or business buyers to assume the property's existing flood insurance policy, NOLA.com reports. That same New Orleans-based news source also says top FEMA officials told members of Congress the agency is now using rate tables in effect before the 2012 Biggert-Waters law increased premiums for many policyholders.
