The effects of the federal government’s partial shutdown are spreading locally as it enters a fourth week.
Rural Development and Veterans Administration home loans are backed by the federal government and are on hold. American Eagle Realty’s Karen Berget says that it’s affecting home sales here in Stevens County. She gave an example of a local home where financing is dependent on federal lenders and is being delayed.
Berget says the delay is also causing problems for the seller since they have moved out of state and can’t close on the sale and the pending purchase of their next home.
She adds even when the shutdown is resolved there will be a back log of pending sales further delaying closures and applications.