Reply to Potential Government Shutdown -- Issues with Closing?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm a Fed, and we closed on our house during the 2019 shutdown with no issues.  I think that, as a result of that shutdown, there is now a law that guarantees back pay.  So, my guess is that you will have no issues, but it would be a good idea to confirm with your mortgage broker just in case.[/quote]

I also closed in February 2019 and unless your lender was your uncle I guarantee you had “no issues”. It was a nightmare. Yes, by then congress said we would get back pay but because there was no end in sight/no knowledge of when that back pay would come, we could not close if we were not *currently* receiving a paycheck (even though neither of us were furloughed). We moved up our closing date the minute the government opened so we wouldn’t risk it closing again before our original close date.

Bottom line, it was a nightmare. Have a good relationship with your lender. [/quote]

I'm the PP and I'm surprised to hear that. I emailed our (local but non-uncle) broker right away when the shutdown happened and within 8 hours got an email that just said something like "thank you for your service, there should be no issue.". We definitely couldn't qualify on one income at the time so maybe it just varied by bank?[/quote]

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