Finance
A NH buyer is required to purchase flood insurance on a property in a FEMA Special Flood Hazard Area. This requirement is imposed by:
ANHREC
BThe National Flood Insurance Program (NFIP) and is required by federally backed lenders✓ Correct
CThe NH Department of Safety
DOnly the buyer's homeowner's insurance company
Explanation
The Flood Disaster Protection Act requires lenders with federally backed mortgages to require flood insurance on properties located in FEMA-designated Special Flood Hazard Areas. This insurance is typically obtained through the National Flood Insurance Program (NFIP), though private flood insurance may also satisfy the requirement.
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