crs: Government Shutdown Impact on Real Estate Transactions
- 12/28/18 02:51 PM
So we are in a Federal Government Shutdown… again. Nine federal agencies are included, and if you are in a real estate transaction, the shutdown may impact your ability to close a mortgage loan currently in process. Many sources were used to compile this article. Please check each agency website for the latest information.
These are some of the potential impacts:
The IRS is used to validate reported income by the loan applicant (Form 4506T), and the shutdown does not allow Lenders to process those This alone may delay a scheduled closing date. Verification of employment is required on all loan products. … (1 comments)
So we are in a Federal Government Shutdown… again. Nine federal agencies are included, and if you are in a real estate transaction, the shutdown may impact your ability to close a mortgage loan currently in process. Many sources were used to compile this article. Please check each agency website for the latest information.
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