Everyone buying or selling a house is asking me the same questions:
Will the government shutdown impact me?
Am I still going to be able to buy a house? Am I still going to be able to sell my house?
The down and dirty:
- FHA and VA loans are currently experiencing a slight slowdown, as long as the shutdown is short lived. If you’re on a tight timeline, this might impact when you close.
- The IRS and Social Security Administration are not able to produce tax transcripts and verifications, this is a standard guideline on all loans. This might impact you if you have not made loan application yet.
- FEMA slowdown only affects map amendments or map issues.
Diana Olick at CNBC just summed it up perfectly– a quick read and/or watch, and totally worth it if you’re currently “”in process””.
No cause for alarm, but this catastrophe needs to be resolved.