|By Natalie Sherman, The Baltimore Sun|
|McClatchy-Tribune Information Services|
The house was in a flood zone, so they had to pay for flood insurace, but the
"I would never have been able, in my way of thinking, to afford this if I would have known the flood insurance would be
Advocates of delay say the removal of subsidies is making premiums much costlier than expected, hurting current homeowners like Yancheski and spooking waterfront housing markets.
Opponents say any delay provides a break to the rich and exacerbates problems faced by the flood insurance program.
"If you make the rates actuarially sound, the people living in high-risk situations are going to have to pay very high rates," said
The outcry has been compounded by the
As of 2013, 65 percent of the program's roughly 715,000 subsidized policies covered properties in counties with median household incomes in the nation's top 30 percent, according to a 2013 GAO analysis. Seventy-nine percent applied to properties in counties with home values in the top 30 percent.
The federal government started issuing flood insurance in 1968, when
The 2012 Biggert-Waters Act, which was supported by all 10 members of