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Real estate not much affected by government shutdown

Posted on Thursday, October 3rd, 2013 at 6:45 pm    

Though the government is currently shutdown, homeowners applying for loans with the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA) should not be greatly affected, a report from the Houston Chronicle stated on Tuesday, October 1.

According to economist Jim Gaines, transaction delays may be expected for homeowners due to the shutdown. Small inconveniences and these delays are to be expected in processing transactions, especially those that may require additional work from the government. The economist is expecting minimal hassles, assuming that the government shutdown will not last more than a week.

For now, only a few employees will work to process mortgage loans that were supported by the government, according to the U.S. Department of Housing and Urban Development.

If you are a homeowner in need of help with home construction or a mortgage, feel free to contact our Austin real estate experts at Easy Road Home today by calling 888-405-2817. We have experience handling any real estate related issue and can provide the guidance and expertise you need.