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."
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Jim Starwalt
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Jim Starwalt, Broker Associate
RE/MAX Center
Phone: 224-627-7581
Jim@StarHomeTeam.com
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How Will the 2013 Government Shutdown Affect My Real Estate Contract?
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