How Will the 2013 Government Shutdown Affect My Real Estate Contract?

How Will the 2013 Government Shutdown Affect My Real Estate Contract?

As a home seller or a home buyer, you may be involved in a real estate contract that involves the buyer getting an FHA loan.

Wondering how the government shutdown could impact your real estate sale?

Click here for the complete article from Les Christie, CNN Money:

"The government shutdown could make it difficult, or even impossible, for banks to close on your mortgage.

One problem lenders might face involves the Internal Revenue Service.

Before closing on a mortgage backed by Fannie Mae or Freddie Mac, banks must verify a borrower's income with the IRS. But IRS operations are curtailed because of the shutdown, and the agency won't be available to handle the paperwork the banks need to close on the loans."

Click here to search Illinois Homes for Sale.

Jim Starwalt

Thinking of making a move?
Log onto my website at www.StarHomeFinders.com and search Northern Illinois Homes for sale.
Registering is quick and easy!
Easily search Northern Illinois Homes for Sale with photos, open houses and virtual tours at StarHomeFinders.com
Jim Starwalt, Broker Associate

RE/MAX Center

Phone: 224-627-7581

Jim@StarHomeTeam.com
Find Me Online
      



How Will the 2013 Government Shutdown Affect My Real Estate Contract?






Comments