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Shutdown leaving USDA loans in limbo

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Mortgage Professional America | 10 Oct 2013, 05:00 AM Agree 0
Those seeking Department of Agriculture mortgages for rural properties are out of luck until the shutdown ends
  • Traci | | 10 Oct 2013, 02:02 PM Agree 0
    This is absolutely already hurting homebuyers whose files have been submitted to their respective RD offices - because the file is there...but no one is there to review it!!! And when they are allowed to go back to work, you can imagine the backlog and delays...buyers/sellers/realtors/mortgage originators are all affected by this!!! And no new appications for RD mortgages aren't being taken. We can't even check to see if a property is in the "Eligible" areas or the soon to be "Ineligible" areas...oh unless Congress acts to extend the pre-census status a bit longer; and that deadline date has come and gone. But if they do, that's only going to be for a very short term, so once again, the proverbial "can" is being kicked down the road. How many times can this keep going on?

    Our elected President and Congressional Members are "supposed" to be the best and brightest this Country has to help run this Country. They need to start acting like responsible adults and not a bunch of children bickering, arguing, and throwing tantrums until they get their way!! And how shameful that they knew this was coming but have waited so long to act? If the President, the House & Senate all worked for "private" companies...they would have been FIRED a long time ago. Those of us in the real world - the private industry, know that service and performance keep you working and in business; without that you don't survive. Why should those elected officials continue when they don't produce??
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