Federal USDA Home Mortgage Loans Being Processed Again
The federal government shutdown made it difficult for some real estate agents to close deals on certain properties, especially in rural areas. The shutdown lasted more than two weeks, causing delays for real estate agens across the country, whose clients are seeking federal loans. Unfortunately, the longer the federal government remained shut down, the more difficult it was to get certain paperwork and funding processed. During the government shutdown, United States Department of Agriculture (USDA) employees, which process loans for some rural real estate purchases, were furloughed without pay. It caused the agency’s loan processing to come to a near standstill. The shutdown kept the USDA from accepting new loans, and slowed the process to disburse...
Read MoreThe Government Shutdown and How It Will Affect You
Everyone’s panicking about the government shutdown, which may happen this Friday at midnight, but what does it really mean for you and me? It isn’t as scary as it sounds — the government has shut down several times in the past. The most recent one occurred from Dec. 16, 1995 to Jan. 6, 1996, according to Reuters. The length of the shutdown (if it will happen) is still not clear, but it has historically ranged from a few days to months. Shutdowns happen when the government can’t come to an agreement about the budget when the federal funding is about to run out. What it basically means is that “nonessential” governmental services will temporarily be closed. Essential services like the military, police, fire department, and air traffic...
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