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Government shutdown puts a stop to buying homes

3 years 2 months 1 week ago October 01, 2013 Oct 1, 2013 Tuesday, October 01 2013 October 01, 2013 5:43 PM in News
Source: WBRZ
By: Adrian Pittman

BATON ROUGE - It's one of the first effects of the government shutdown in the Baton Rouge area: trouble with some mortgage loans.

People looking to buy homes in Livingston Parish qualify for a federal loan called the Rural Development Loan under the U.S. Department of Agriculture. However, government workers who would process that loan are on furlough during the shutdown.

3 Chix Realty in Livingston Parish says it's already feeling the hit.

"It is a little frustrating because we do have several loans that are in the process with Rural Development with various stages. And we actually got a couple of contracts yesterday and today that would be be qualified for RD," said C. J. Johnson.

The real estate agency says the shutdown could affect about half of its business.

The IRS will also not be issuing tax transcripts during the shutdown, which could throw up another roadblock to buying a home in the coming days.

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