People dealing with real estate transactions may have been taken by surprise after finding out their property was in moratorium.
This leads to their home and rental insurance to block any changes that might want to be made.
Some of the affected by this are people trying to sell their homes and anyone trying to make changes in their rental policy.
Insurance agencies are not responsible for letting their customers know about the current state of their policy, it is up to the policy holder to keep up with any changes being made.
“And a lot of us don’t know what our policy says until it’s too late and we saw that happening with a lot of the flooding back east over the last few years so don’t be ignorant of what your own policy says. ”
Said Alice Lema, real estate broker.
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