Government Shutdown: How Does it Affect Buyers and Sellers?

According to yesterday's article in the LA Times, the government shutdown is affecting buyers and sellers in a negative way.

Although mortgage rates have gone down significantly, there are many delays to the home buying and selling process that will make transactions more difficult for all parties involved. 

David H. Stevens, president and chief executive of the Mortgage Bankers Assn., said in a statement on Thursday that "lenders processing loans that need tax transcripts, Social Security number verification, or FHA home loans face longer delays and reduced functionality." 

The article continues by suggesting that potential mortgage borrowers discuss with their lenders about timelines and expectations, as well as ask about longer commitments, longer rate locks and extension policies.

How do you feel about the government shutdown?  Has this affected your home buying or selling ability?  Comment below, I'd like to hear from others who are facing delays to their property transactions because of this.

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~Tina Jan~
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Coldwell Banker Kivett-Teeters
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