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Old 09-28-2013, 05:22 AM
 
204 posts, read 297,066 times
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I'm supposed to be closing on the sale of my house in the next week or so. The buyer has an FHA loan. If this government shut down happens will this affect my closing?
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Old 09-28-2013, 03:57 PM
 
4,565 posts, read 10,658,413 times
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I dont know. But I do know they wont go over 22 days shutdown. Congress can only issue back pay for 22 days. Its really a dream come true for a gov employee. The last shut down was 21 days. The gov employees got 21 days off, and then received back pay and didn't have to use sick time or annual leave.
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Old 09-29-2013, 04:11 PM
 
Location: San Diego
306 posts, read 657,343 times
Reputation: 263
government will not shut down...this whole thing is a CIRCUS, we have gone through this episode several times before, the morons in Washington will reach some stupid last minute deal, pat themselves on the back for a "job well done" and things will just keep going on UNTIL of course it blows up again next year...
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Old 09-30-2013, 12:20 PM
 
3,804 posts, read 9,324,268 times
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Quote:
Originally Posted by Apple juice View Post
I'm supposed to be closing on the sale of my house in the next week or so. The buyer has an FHA loan. If this government shut down happens will this affect my closing?
No.
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Old 09-30-2013, 01:26 PM
 
Location: New York
2,251 posts, read 4,916,356 times
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I saw this on the news, I remember the last time this happened.

If an application for an FHA loan has not been approved by the time of the shutdown, it will have to wait until after the shutdown ends.

See HUD FY2013 Contingency Plan - http://www.housingwire.com/ext/resou...yplan20131.pdf



..
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Old 09-30-2013, 03:34 PM
 
Location: Denver, CO - Capitol Hill
557 posts, read 811,021 times
Reputation: 519
66 questions and answers about the government shutdown

42. Can I still get a federally backed loan? Maybe not. "Federal loans for rural communities, small business owners, families buying a home will be frozen," President Obama said Friday.
43. Does that mean I can't get an FHA mortgage? No. The Federal Housing Administration says it "will endorse new loans under current multi-year appropriation authority in order to support the health and stability of the U.S. mortgage market."
44. Does that mean I can't get a VA mortgage? No. The Department of Veterans Affairs says loans are funded via user fees and should continue. However, during the last shutdown, "loan Guaranty certificates of eligibility and certificates of reasonable value were delayed."
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Old 10-01-2013, 04:48 AM
 
204 posts, read 297,066 times
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Thanks.
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