Govt. Shutdown affects real estate market

Oct. 2013 the government shuts down. No big deal right? The Post office is open, airplanes are still flying and most of us here in Northern Indiana aren't bothered at all. Sure I guess unless you're trying to buy or sell a house or get a mortgage. As of 10/1/13 when the govt. shut down all FHA and USDA employees are on furlough. That means if you've been waiting for your USDA loan to close since August just keep waiting. Your loan is now on hold indefinitely. "That's okay we're going to do a conventional loan" You say? Oh wait, one of the governments new regulations for getting a loan is to verify your tax returns with the IRS and that division of the IRS is shut down! So basically this chest thumping match between the D's & the R's has the potential to derail 11 real estate deals in my office and two different parties run the risk of being homeless because they gave notice to their landlord and have to be out at the end of the month.