Short update on the effect the government shutdown will have on getting a home loan

Interest Rate Update
Interest rates have eased down a tiny bit over the last few weeks. Some “experts” say rates
could dip down again for a short period of time as Congress starts to deliberate about the debt
ceiling.
Government Shutdown
So here we go again with our wonderful elected officials bickering to the point that they have
now shutdown the government. Amazing how this could happen. Anyway, so how does this
situation affect getting a home loan? Not much is changing. The IRS will not be processing the
4506 Forms but most lenders can deal with that. The Social Security Administration will not be
processing the SS89 Form that verifies a person’s Social Security number but again lenders can
deal with that.
How Does This Affect You ?
Hopefully this shutdown will not last long. In the meantime lending should be pretty much the
same. We may see some temporary issues but there should be nothing serious. That being said
if this shutdown lasts longer then a few days we may all see some serious changes in everything. I would advise all of us to get on the phone and fire up your e-mails and get the message
to our elected officials that this is not acceptable. They were elected to do their job which is to
run the government and they are obviously failing.