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The Shutdown and your government mortgage: How it will affect FHA, VA and USDA loans

The following pre-endorsement loan processes  will be available  during the shutdown, but with limited staff assistance available and longer wait times for assistance:

Condominium Project approvals under the Direct Endorsement Lender Review and Approval Process (DELRAP) Manual endorsement actions: case number cancellations, reinstatements, and transfers Resolution of the Holds Tracking queue TOTAL Mortgage Scorecard evaluations.

This means if your lender can't approve your loan using automated systems, you may have to wait. For example, if your credit history is too thin, they have to underwrite you manually, using the TOTAL Scorecard. That will likely cause a delay.

Ditto certain condominium projects -- if your condo isn't already FHA-approved, you could be in for a longer wait.

Irma by the latest numbers: $172 million disbursed in the Keys

Monroe County homeowners and renters impacted by Hurricane Irma have received more than $172.4 million in federal funding for housing, flood insurance claims and other recovery needs from the Federal Emergency Management Agency, a county official says.

Monroe County has helped facilitate some of FEMA’s programs. Here is the latest since Hurricane Irma struck the Keys as a Category 4 on Sept. 10:

FEMA has provided $59.8 million in grants to more than 16,400 Monroe County homeowners and renters. FEMA grants can include money for temporary rental assistance, home repairs and other needs not covered by insurance, such as replacing destroyed personal property.

The National Flood Insurance Program, which is part of FEMA, has paid $112.6 million in flood insurance claims to Monroe County policyholders, according to preliminary data.

To date, the U. S. Small Business Administration had approved nearly $147 million in low-interest disaster loans for residents, business owners and nonprofits in Monroe County. This includes 1,901 home loans totaling $101.9 million, 380 business loans totaling $39.1 million and 87 Economic Injury Disaster Loans totaling $5.6 million.

Why can't the government provide direct home loans 2-4 %, providing stimulus, ability to keep payments stable?

- banks are not working
- government is providing money
- citizens need relief and a solid low rate loan would provide $$$ in everyone's pockets, not just people defaulting
- 10 year Tbill is at 3%.

the government has set up FHA,VA, and Rural housing. but where did you get the idea that there was 2-4% money available. There isn't. If that happens we a re in a long term depression and the fed funds rate drops to .