Governor Cuomo Announces Housing Recovery Program to Compensate Homeowners for Repairs of Damage Due to Storms Irene, Lee and Sandy

Albany, NY – September 30, 2013 – (RealEstateRama) — Governor Andrew M. Cuomo today announced that New York State’s Housing Recovery Program will fully compensate homeowners affected by Hurricane Irene, Tropical Storm Lee, and Superstorm Sandy for the repair costs of damage to their homes due to ‘earth movement.’ Under FEMA’s existing National Flood Insurance Program (NFIP) regulations, damage caused by the movement of soil or earth – even if the movement is the result of flooding – is not eligible for coverage. In comparison, physical damage to a building caused directly by flood waters is covered under NFIP.