BREAKING NEWS: HUD Announces Payments May Continue Through Shutdown

US Government Shutdown Not Anticipated To Impact HUD Payments

December 20, 2024

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BREAKING NEWS: In exclusive reporting earlier today, Foreclosurepedia has received word from a Senior HUD Official about the potential impact of a US government shutdown anticipated to begin at midnight, tonight.

We would handle similarly to what we’ve done in the past. FSM Activities are exempted and would continue. MCM and AM would not be considered essential, but are fully funded and require minimal COR oversight and are not performed at Government facilities, so the contractors would also be authorized to continue. Payments to the primes would only potentially be delayed on the non-essential contracts, as COR staff would not be authorized to work. On FSM or any other excepted contracts, there should be no delays regarding payment.

Whether or not 24 Asset Management, JGM Property Group, or Spectrum Solutions will pay when paid or rely on the shutdown to hedge money, in a time of nearly zero volume, remains unclear.

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