What Does the Government Shutdown Mean for Real Estate?
Congress has failed to approve a Continuing Resolution (CR) providing funding for most government operations. Therefore, spending authority for most of the government expired at midnight on Sept. 30, 2013. Until legislation providing for funding is signed into law, many offices and programs of the federal government are now shut down. This means many, but not all, government programs, including some that impact federal housing and mortgage programs, have been suspended or slowed due to the lapse in government funding. The Office of Management and Budget (OMB) requires each agency to have contingency plans in place. Check out the summary below for detailed information about how this shutdown may impact your business.View the Summary
Summary includes information about:
- Social Security Administration
- Federal Housing Administration
- VA Loan Guaranty Program
- Flood Insurance
- Rural Housing Programs