{"id":17914,"date":"2025-10-23T21:55:07","date_gmt":"2025-10-23T21:55:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/17914\/"},"modified":"2025-10-23T21:55:07","modified_gmt":"2025-10-23T21:55:07","slug":"ongoing-government-shutdown-creates-uncertainty-for-housing-market-in-northeast-florida","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/17914\/","title":{"rendered":"Ongoing government shutdown creates uncertainty for housing market in Northeast Florida"},"content":{"rendered":"<p><img alt=\"\" loading=\"lazy\" width=\"300\" height=\"169\" decoding=\"async\" data-nimg=\"1\" class=\"rounded-lg\" style=\"color:transparent\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/10\/29cc667c472517ebc99b8b42e550e07f.jpeg\"\/><\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">The government shutdown is rippling through the housing market, slowing down sales and loans.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">A local mortgage broker said it is leaving both buyers and sellers in limbo.<\/p>\n<p><a href=\"https:\/\/www.actionnewsjax.com\/live-breaking\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:&gt;&gt;&gt; STREAM ACTION NEWS JAX LIVE &lt;&lt;&lt;;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">&gt;&gt;&gt; STREAM ACTION NEWS JAX LIVE &lt;&lt;&lt;<\/a><\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">\u201cIt doesn\u2019t look that good,\u201d said Tim Newman, with the North Florida Mortgage Brokers. \u201cIf you\u2019ve been furloughed, you no longer have active employment, and your home buying process has just stopped abruptly.\u201d<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Government-backed mortgage programs are taking a hit.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">\u201cYou are going to completely see a stoppage of USDA loans, which support rural housing,\u201d said Newman. \u201cThat program is not issuing any loans at this point. That\u2019s completely stopped.\u201d<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Newman said buyers using Federal Housing Administration or Veterans Affairs loans may also face significant delays.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">He adds that the closing times for those loans are going to take a little longer.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">[DOWNLOAD: <a href=\"https:\/\/www.actionnewsjax.com\/mobile-apps\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Free Action News Jax app for alerts as news breaks;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">Free Action News Jax app for alerts as news breaks<\/a>]<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">\u201cA typical loan can close in 30 days,\u201d said Newman. \u201cNow it\u2019s going to be closing in a time frame of 45. Not the end of the world, but if you are in a tight squeeze and under contract to sell your home and then buy another one, that might be an issue.\u201d<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Another concern is flood insurance.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Before homebuyers can close on a property, some lenders require proof of flood insurance coverage.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">But during the shutdown, the National Flood Insurance Program cannot issue or renew new policies.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">\u201cIf your home is located in a flood zone, matters just got a little bit worse for you,\u201d said Newman.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Newman said the best move right now is to get help from professionals.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">[SIGN UP: <a href=\"https:\/\/membercenter.actionnewsjax.com\/newsletters\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Action News Jax Daily Headlines Newsletter;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">Action News Jax Daily Headlines Newsletter<\/a>] <\/p>\n","protected":false},"excerpt":{"rendered":"The government shutdown is rippling through the housing market, slowing down sales and loans. A local mortgage broker&hellip;\n","protected":false},"author":2,"featured_media":17915,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[6539,28,30,29,761,4918,6541,14940,14942,14939,14941],"class_list":["post-17914","post","type-post","status-publish","format-standard","has-post-thumbnail","category-florida","tag-federal-housing-administration","tag-florida","tag-florida-headlines","tag-florida-news","tag-free-action-news-jax","tag-housing-market","tag-national-flood-insurance-program","tag-north-florida-mortgage-brokers","tag-rural-housing","tag-tim-newman","tag-usda-loans"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/17914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=17914"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/17914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/17915"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=17914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=17914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=17914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}