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Skyrocketing flood insurance rates have Congress' attention
Skyrocketing flood insurance rates have Congress' attention

When Steven Yancheski and his wife bought their Fort Howard home at a foreclosure auction in 2010, they thought they were getting a deal: a two-bedroom bungalow in "paradise" for about $85,000. The house was in a flood zone, so they had to pay for flood insurance, but the $800 annual premium did not deter them. However, the new $2,500 yearly rate they will start paying in March is another story. "I would never have been able, in my way of thinking, to afford this if I would have known the flood insurance would be $2,500. It's really put me in a dilemma," Yancheski, 65, said of the premium spike for flood insurance on his Baltimore County home, which adds about $300...

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