The Burlington Free Press (PDF) has an article up on some of the impact the federal government shutdown is having in Vermont:
Maura Collins, policy and planning manager at the Vermont Housing Finance Agency, said Vermont uses the rural development home loan program more than other federally guaranteed loan programs. In this shutdown, she said, the rural development program is affected by the federal shutdown, while Veterans Administration and Federal Housing Administration loan programs are left alone. As a result, Vermont might see a greater impact than locations where the other loans are more popular. Collins said lenders are struggling Tuesday to decide whether to continue to take applications for the rural development loan program and what to do with applications already in process.
Housing Matters has some of the contingency plans of the housing agencies:
HUD recently released its 2013 Contingency Plan for Possible Lapse in Appropriations. The U.S. Department of Veterans Affairs and the U.S. Department of Agriculture’s Rural Development programs have also released contingency plans.
Forbes has more on the potential impact the shutdown will have on the housing market nationally. Approximately $300 million will be lost every day the federal government remains shutdown.
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