Government shutdown 2019: Homebuyers with USDA mortgages can’t close on house sales – Fin2me

Government shutdown 2019: Homebuyers with USDA mortgages can’t close on house sales – Jordan and Tracey Smith of Madison, Maine, were scheduled to close on their first home on Friday. borrowers who depend on the USDA. The department provides – through private lenders – mortgages.

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“Lenders cannot close and fund until it has the USDA blessing,” said Brad Brown, who is a Mortgage Loan Officer at TowneBank Mortgage. The government shutdown is now hurting home buyers.

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Government shutdown 2019: Homebuyers with USDA mortgages can’t close on house sales – But the government shutdown has gotten in the way. interest rates and fees to rural and suburban homebuyers. It’s a small program, helping just over 140,000 people to buy a home in 2017, but is.

USDA Farm Service Agency offices, which process farm loans and gather data farmers need to make decisions, are closed. "Everything just grinds to a halt," said Mike Ballweg, a University of Wisconsin-Extension agent. More: Government shutdown 2019: Homebuyers with USDA mortgages can’t close on house sales

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The federal government shutdown could wreak havoc on U.S. agriculture, and the rural economy, as farmers wait on subsidy payments, loans and data they need now to make plans for the spring.

Airlines can’t get. of 2019. Homebuyers and lenders are beginning to see the effects of the shutdown as an Internal Revenue Service income verification operation goes dark. That could mean delays.

 · More: Government shutdown 2019: Homebuyers with USDA mortgages can’t close on house sales. More: From California to New York, states are raising minimum wages in 2019.

Government shutdown affects USDA loans, Ozarksfirst.com, January 6, 2019 Government shutdown 2019: Homebuyers with USDA mortgages can’t close on house sales , USA Today, January 3, 2019 shutdown struggles loom for localities in need of infrastructure, affordable housing funding , Route Fifty, January 3, 2019