Government Shut Down and Realtors
Amy P. Fennell • January 24, 2018
Congress has failed to approve a Continuing Resolution (CR) providing funding for most government operations. Therefore, spending authority for most of the government expired at midnight on January 19, 2018. Until legislation providing for funding is signed into law, many offices and programs of the federal government are now shut down. Items to highlight include:
NFIP will not be able to issue new or renew flood insurance policies
Delays with FHA processing due to short staffing
Fannie and Freddie are expected to announce relaxed procedures that would permit closings to go forward without federal verification of Social Security numbers and IRS tax transcripts
U.S. Department of Agriculture will not issue new rural housing Direct Loans or Guaranteed Loans
The VA loan guaranty program will be operational
The IRS is closed and has suspended the processing of all forms, including requests for tax return transcripts (Form 4506T)
Are you wondering if now’s the right time to stop renting and start putting down roots in Louisiana? Here’s some signs you’re ready to buy, and how a local expert can help you take the leap.
As previewed last week, NAR is pleased to share the latest consumer guide focused on Making Your Home More Energy Efficient. This guide helps homeowners understand how to reduce energy usage, make cost-effective upgrades, and improve the efficiency and appeal of their home whether they are planning to sell or stay. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Making Your Home More Energy Efficient Real Estate Auctions Buyer’s vs. Seller’s Markets Estate Planning Mortgage Interest Tax Deduction Understanding & Protecting Yourself from Title Fraud Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients so that they have the information they need to find success in their homebuying or selling journey. Please remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover buying a historic property.
As previewed last week, NAR is pleased to share the latest consumer guide focused on Working with a Real Estate Attorney. This guide explains how real estate attorneys can assist throughout the homebuying process, including reviewing contracts, resolving title issues, and ensuring legal documents are properly completed. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Working with a Real Estate Attorney Real Estate Auctions Buyer’s vs. Seller’s Markets Estate Planning Mortgage Interest Tax Deduction Understanding & Protecting Yourself from Title Fraud Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients so that they have the information they need to find success in their homebuying or selling journey. Please remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover making your home more energy efficient.
