There has been a lot of buzz about the government shutdown that is still in the midst of being figured out. Without going into all those details that you can read on CNN, we thought it would make sense to talk about some of the ramifications in the world of real estate – and specifically in Massachusetts.

A few bullet points of specific note:

• FHA will continue to process single family loans and endorse new mortgage loans however, at a slower pace due to staff reductions.
• No multifamily loan products will be approved meaning no new approvals of condo projects.
• Furloughs of U.S. Department of Agriculture mean that those seeking a mortgage via rural housing programs will be delayed.
• Additionally, due to closures in other government departments, getting information needed to obtain a loan may be delayed.

Take a few minutes to check out this video as well that talks about some of these points in more detail: