
February 13, 2019
Will Another Government Shutdown Affect First-Time Home Buyers Applying For FHA Mortgage Loans?
While threats of another government shutdown seem to be on-again, off-again, some potential FHA borrowers are wondering if there will be a repeat of the stalemate that brought the longest government shutdown in recent memory. And will FHA home loans be available to first-time home buyers if the whole affair repeats itself again? FHA Mortgage Loans Will Still Be Available During The Government Shutdown The kind of loan you buy a home with, FHA forward mortgages, will continue to be serviced during a possible shutdown as previously reported here and elsewhere, as discussed in the HUD/FHA contingency plan released prior to the last shutdown. Reverse mortgages, on the other hand, may once again be completely unavailable during the shutdown. FHA loans that cannot be processed using automated means-those that require | more...