Housing advocates ask for pause on foreclosures during shutdown [MarketWatch]
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Source: MarketWatch
Housing advocates ask for pause on foreclosures during shutdown It’s only fair the foreclosure process is shut down while the federal government remains on a partial shutdown, housing advocates urged Thursday. Fifteen organizations from across the country urged the United States Department of Agriculture (USDA) in a letter to pause all foreclosure proceedings during the shutdown for its home loans where borrowers are behind. Though better known as the federal agency that sets farming policies and inspects the nation’s food, the USDA also runs a home loan program focusing on rural homeownership. When borrowers fall behind, the program allows for alternatives to foreclosure. But a servicing center that’s key to helping struggling homeowners has stopped operating while the shutdown grinds on, the letter noted. “Without access to the process, homeowners will face avoidable foreclosures,” said the letter submitted on the shutdown’s 27th day. The housing advocates insisted a “comprehensive
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