What does a government shutdown mean for Baltimore real estate? It can mean quite a bit. First, the IRS is closed, so if a buyer's bank needs ANY documentation from the IRS that the buyer does not have in their possession, then they are stuck until the government reopens before that buyer can close on [...]
The Government shutdown is affecting most mortgages, according to an email I received from a lender. Though FHA announced they would continue processing applications during the shutdown, there are many other loan types, and it turns out, all of them may be affected in some way. Why would your conventional mortgage be affected? 1) The IRS [...]
Despite plans to the contrary, the Federal Housing Administration (FHA) today said that FHA loans will continue to be processed during the government shutdown. Originally, FHA said that they would not be able to process loan applications due to the fact that 96% of their employees will be furloughed, according to an article by CNNMoney. [...]