The Government Slowdown Puts Us Out Of Business Until Rectified!

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This is an update as to how the shutdown will affect the FHA Condos Approval Process and consequently our business. It pretty much puts our company out of business until congress decides to do their job. As a side note the members of congress are going to be paid while millions of rank and file workers don’t.

The FHA Condos Approval Company, Inc.

GOVERNMENT AFFAIRS

According to the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA) will not accept or process most condominium approvals or renewals during a federal government shutdown. Unless the Congress and President Obama agree to a temporary spending measure by midnight on September 30th, many federal agencies and departments will cease non-emergency operations on October 1st.

According to a contingency plan prepared by HUD, FHA review of condominiums processed through the HUD Review and Approval Process (HRAP) will be suspended. Accordingly, FHA will not accept new HRAP condominium approval and renewal requests during a shutdown and will not make approval or renewal determinations on previously submitted HRAP packages.

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