The web is abuzz with what is going to happen now that the government has shut down. The trickle down effect of the closure is wide spread. If you are in the process of a short sale of your property it is going to depend on where you are in the process, if your bank needs to verify tax returns the IRS will be closed and you will be delayed. Freddie Mac and Fannie Mae are not government entities and should be okay, FHA is going to be open but who knows for how long and won’t be fully staffed so prepare for delays, the VA should be open for loan processing but again who knows for how long.
There are going to be delays and the best bet is to keep in touch with your loan officer for the specific details as to how this will effect you….it’s the trickle down effect that may not be so apparent…contracts to purchase need to address this because the financing clause may be delayed through no fault of a buyer.
So many people with the loss of their income and benefits; I had a question yesterday regarding Radon testing and the HUD website had a banner that they would not be available for the duration of the government closure.
I wish I could vote in Texas because you gotta know one of their politicians has GOT TO GO!
Questions? CONTACT ME or call my cell at 504-908-2268