Attention Sellers: If your home is under contract…READ THIS

Sellers…if your home is currently under contract..Check with your agent TODAY to verify if your buyer is purchasing via an FHA loan.

With the looming budget battle and subsequent shutdown, the loan process for FHA backed loans will come to a halt should no compromise be reached.

This is the release I just received:

"FHA will be unable to endorse any single-family loans and FHA staff will be unavailable to underwrite and approve new loans," in the event of a shutdown, according to the contingency plan from the Department of Housing and Urban Development, the FHA's parent agency. Of the 9,300 employees who work for HUD, only 350 (3.8%) will be able to work, according to HUD.

So sellers…if your agent has not reached out to you…and you are not certain if your home is under contract to an FHA backed purchaser…call your agent today! You may have to make some contingency plans.

As always…thanks for reading,

Steve Jackson…561.602.1258