- A poignant summary of the problems comes in a letter-to-the-editor in the October 8Washington Post from a woman in Maine who is pre-approved for a USDA mortgage:
Each day that the government shutdown continues means that I am closer to losing the chance to buy my first home. ... Losing this home would crush our spirits. It’s been a long road to homeownership for us, and to even consider that we will lose this home because of politics in Washington makes me sick to my stomach.
- On October 5 the Washington Post had a page-one article on the stalling of federally insured home loans due to the shutdown. The article uses as a prime example a young Virginia couple's likely loss of their USDA-backed first-home purchase.
- A Huffington Post blog on October 4 made similar observations about USDA loans.
- A Bloomberg news story October 8 calls the stoppage of USDA loans “an early warning of how the government’s first partial closing in 17 years could put a drag on the wider housing market.”
- And the St. Louis Post-Dispatch's article on the impact of the government closure on the housing industry leads with a mortgage broker who says USDA loans account for 12-13% of his company's business.
Senior Loan Officer
Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*