How will the Govrn't Shut Down Affect Real Estate?

The country is bracing for a long government shutdown, which started Oct 1st.  So how will this affect my real estate business and your pending transaction?
Well, with the IRS closed, lenders will not be able to verify tax returns as part of a buyers loan application.  Also, there will be significant staff reductions at the Federal Housing Administration (FHA), which handles about 15% of the mortgage market. 
Although the shutdown is not expected to have a huge effect on mortgage investors, Congress has given the public little reason to believe it will come to a resolution as soon as possible for the sake of the economy.
And it is expected to dampen the housing recovery and disrupt the mortgage processing.
  • October 04 2013 - Fremont
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Answers (1)

Let the chips fall where they may. 
  • October 04 2013
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