This is how much unpaid federal workers owe in housing payments

Federal workers owe $438 million across mortgage, rent payments

Amid disagreements regarding funding for President Donald Trump’s border wall, the United States government has remained partially shutdown for the past two weeks.

With no indication of the stalemate coming to an end, thousands of government workers are working without pay.

Unfortunately, these Americans, like many around the country, still have to pay their rent and mortgages.

In fact, new data from Zillow indicates that federal employees that own homes make about $249 million in mortgage payments each month.

When it comes to renters, Zillow highlights that data collected from HotPads, an apartment and home rental site, reveals that federal workers pay $189 million each month for housing.

Combined that’s a whopping total of $438 million in housing dollars at risk.

“The effects of the federal government shutdown on the housing market are wide-ranging and personal: Unpaid workers still have to pay their mortgage or rent, while aspiring homeowners might see their loans in limbo,” Zillow writes.

According to the company, about 3,900 mortgage originations are processed for loans backed directly by federal government agencies each business day. Although there isn’t official word on how many of these loans could have been delayed, as many as 39,000 mortgages could have been impacted.

Notably, the Department of Housing and Urban Development has been working to prevent any evictions that could occur as a result of the shutdown. In fact, the government entity mailed letters to 1,500 landlords, pleading they halt evictions and use reserves due to the lapse in funding for multifamily programs, according to Zillow.

Most Popular Articles

FHA loan limits increasing for almost all of U.S. in 2020

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020.

Dec 05, 2019 By

Latest Articles

HousingWire is growing. Come join us

2019 has been a year of tremendous audience and product growth for HousingWire and we couldn’t be prouder. But we’re not ready to rest on our laurels. Far from it. In fact, 2020 promises to be an even bigger year for HousingWire.

Dec 06, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please