Shutdown Impacts Multifamily Housing Programs

Loan approvals and mortgages could be delayed, but experts think the housing market would bounce back. By Jotham Sederstrom With a dispute in the Senate over the immigration program DACA still unresolved, the government shutdown continues for a third day on Monday morning after Congress’s failed attempts to pass a spending deal that would fund the government through mid-February.

The U.S. Department of Housing and urban development (hud), has released a contingency plan outlining the status of its programs during the shutdown. Much of HUD funding for multifamily affordable housing is disbursed through local public housing agencies (phas), which are not part of the federal government and therefore continue to operate.

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How the Government Shutdown Impacts Multifamily With HUD and other agencies currently disabled, residents and private sponsors of government-assisted housing are feeling the fallout from the.

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The shutdown won’t impact mail delivery, Social Security checks, Section 8 housing vouchers, Medicare benefits or any of that, at least not in the immediate future (and for most of those programs, not.

President Donald Trump has vowed that the partial government shutdown that began at midnight – the second government shutdown to occur while Republicans control the White House and both branches of.

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If the shutdown continues, about 500 more contracts will expire in January and an additional 550 in February. The Section 8 program, known as Project-Based Rental Assistance, subsidizes rent and utilities for 1.2 million low-income families. HUD has sent letters to landlords asking them to use their reserves, where available, to cover any shortfalls.

Continued Government Shutdown – Potential Impacts to Funding: AHSC appreciates your patience while we navigate this unchartered territory together.. OFFICE OF MULTIFAMILY HOUSING PROGRAMS OFFICE OF THE DEPUTY ASSISTANT SECRETARY MEMO FROM:. FASS and APPS News: FASS (Financial Assessment Subsystem) & APPS (Active Partners Performance.

The shutdown impacts 177 Project-Based Rental Assistance Contracts in California through February, or more than 7,000 rental homes. Check out this fact sheet on the impacts of the shutdown on affordable housing programs, and contact your members of Congress.

The partial government shutdown, now well into its third week, is having an impact on HUD multifamily programs, as the agency’s spending authority expired on Dec. 21, 2018, due to the lack of appropriated funding.