Flood insurance policy holders are looking at losing coverage by the end of this month if congress does not take action in regards to the National Flood Insurance Program (NFIP). September 30, 2010 will mark the fourth time this year that the program has expired.

This action will not only affect homeowners with flood insurance coverage, but will also affect home sales. Sales on properties that are sitting in flood zones and scheduled to close will be postponed until the potential homebuyer is able to purchase flood insurance.

Many believe that the flood insurance program should be extended for at least a year and reformed. It is also believed this should be a top priority for congress, especially with the upcoming expiration and large number of storms in the Atlantic.