As the partial government shutdown continues on, you’ve no doubt heard how many federal workers are furloughed or working without pay.
Government shutdowns like this can have a number of impacts on the real estate market too, and on you as a homeowner or prospective homeowner as well.
In this week’s vlog, Katie Vroman and I take a look at some ways that the government shutdown is impacting the real estate market in Fremont County, as well as take a look at a number of real estate-related programs that are still up-and-running.
As we discuss in the video, one of the primary ways that the shutdown is affecting people in our area (at least in terms of real estate) is that programs like Rural Development are shut down.
Rural Development offers home loan programs that are extremely popular in our area, and unfortunately, those loans will not be processed while the shutdown continues. Additionally, furloughed workers could find themselves with difficulties getting financing because of not getting paid during the shutdown.
It’s not all bad news, though. Loans through FHA seem to be unaffected (unless there are exceptions that must be approved) and HUD transactions also seem to be unaffected.
Be sure to watch the complete video above to learn about all the federal programs that we’ve found that are currently down as well as those that are still going despite the shutdown.
Our hope is that by providing this information, we can alleviate a little bit of the stress of the unknown!
As always, if you have questions or concerns, please contact us at 307-856-3999 or drop by our office at 309 N Broadway in Riverton.
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