How Will Federal Shutdown Affect FHA Loans And Other Government-Backed Loans?

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Like they say, there’s good news and there’s bad news.

Realtors and brokers won’t come out unscathed from the federal government shutdown, as a report from the National Association of Realtors shows. If you’ve got a closing coming up, best be prepared to have some hiccups.

While the NAR report says that FHA will “continue to endorse new loans in the Single Family Mortgage Loan Program, multi-family loans won’t be processed. VA loans will be processed, too, and flood insurance from FEMA will get a government stamp, and Fannie Mae and Freddie Mac are still keeping the gears greased.

On the flip side, if you have to process IRS forms or verify Social Security numbers through the SSA, you’re out of luck because these offices are closed.

Read the whole document below.

NAR Government Shutdown Brief