Government shutdown could roil housing market

Concerns about a government shutdown are also causing worry about a how a prolonged budget impasse could affect the nation’s fragile and still-recovering housing market.

In the event of a shutdown, the U.S. Department of Housing and Urban Development’s Federal Housing Administration — which insures and guarantees a large number of single-family mortgages and even more rental and multifamily properties — would cease operations.

A shutdown of just a few days would cause some inconvenience and delay to FHA mortgage applicants looking to close on a new house — as well as private lenders unsure of whether to approve loans that normally need to be endorsed by the federal government.

Click HERE For More Information | American Land Title Association

What do you think?  How will a government shutdown affect your industry/business?

 

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