WASHINGTON, D.C. (NAHB) – Beginning week two of the federal government shutdown, one question that has likely occurred to you is “how will this hurt my business?”
The National Association of Home Builders (NAHB) has compiled a list of programs that are important to many builders and real estate professionals, and that could be affected by the shutdown. Here’s an excerpt from NAHB’s list:
FHA-insured single-family loans will continue to be endorsed in the near term, although some delays in processing and closing should be expected.
FHA multifamily insured projects with firm commitments and scheduled closings may go forward, although no new firm commitments will be issued.
Section 8 Project-Based Rental Assistance Contracts, rent supplement, Section 236, and PRACs with permanent or indefinite authority or multiyear funding will have payments made from budget authority available from prior appropriations or recaptures.
No Real Estate Assessment Center (REAC) inspections will take place.
CDBG, HOME and other block grant funds will be dispersed in cases where failure to address issues results in a threat to safety of life and protection of property.
Authorized drawdowns for approved Community Planning and Development program activities (homeless assistance programs, CDBG, HOME, HOPWA) using pre-FY2014 program funds will continue uninterrupted unless it is necessary for a HUD employee to approve a voucher or lift a system edit prior to a drawdown.