Housing
Think the Shutdown Doesn't Affect You? Try Applying For a Mortgage
Why the legacy of the housing crisis is making the government shutdown even more disruptive.
The government shutdown in Washington has been messing with the housing market in some maddeningly invisible ways. If you're trying to apply for a home loan right now under the U.S. Department of Agriculture's rural housing program, for example, you're out of luck. That program is shut down (the USDA backs less than 5 percent of all mortgages).
The U.S. Department of Housing and Urban Development, home to the Federal Housing Administration (which backs 25 percent of new home purchases) has furloughed 96 percent of its staff. The FHA is still endorsing new loans but warns of delays. Same with the department of Veterans Affairs (which guarantees about 10 percent of home loans).