The federal government shutdown is now three weeks in, freezing USDA loans and delaying VA and FHA mortgages. Federal flood insurance is unavailable in some areas. New Jersey buyers should consider conventional loans and private flood insurance instead, and federal employees need to contact their mortgage servicers now.
The federal shutdown affects NJ Housing Switch to conventional loans Contact providers promptly. Video is critical for you. We're now in the third week of the federal government shutdown and the impact really is getting worse by the day. For 22,000 New Jersey federal employees are impacted. The last paychecks they got was 10-10-10 and many are now starting to miss mortgage payments. Here's a concrete problem. USDA loans Completely frozen VA and VA loans Major processing delays with skeleton crews trying to get these things through. Right now. Flood insurance isn't available in these areas with the shutdown. There's a real solution available if you're buying with FHA or VA or USDA loans. Switch to a conventional financing if possible. Conventional loans that are backed by Fannie Mae, Freddie Mac are operating completely normally with no shutdown delays right now during this time. If you need flood insurance, private flood insurance is fully operational and accepted by the Federal Backed Mortgage program. Platforms like floodprice.com can get you a competitive quote quickly as well. Here's your action plan. If you're a federal employee, contact your mortgage service provider immediately. Please do not try to miss a payment. The shutdown doesn't have to stop you and your real estate plans. If you have the right team and strategies.
