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Real Estate
Reply to "Potential Government Shutdown -- Issues with Closing?"
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[quote=Anonymous]OP here. We checked with our lender and we were told that we wouldn't be able to close if there is a shutdown and income/employment can't be verified. Whether the buyer is furloughed doesn't necessarily matter to our lender. Each shutdown is different and our lender noted that whether income and employment verification can happen may vary shutdown to shutdown and agency to agency. It did cause problems for some (but not all) federal employee buyers who didn't anticipate a the last shutdown, apparently. While we haven't decided what to do going forward, I thought it best to respond and let others know given some of the varied responses on this thread. Feds should obviously talk with their lender and evaluate their own risk tolerance if they want to waive the financing contingency in the coming days. Hopefully the CR is passed soon... [/quote]
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