Important: The effects of government shut down on loans for purchasers and sellers.

Check with you lender if your buying or selling your home on the effects of the federal shut down effect on your home sale or pruchase: Items to review should include: (1) Type of loans that may need extension or need to be flipped to other types of loans including FHA, VA, USDA to convensional, hybrid, hard money, or in house portfolio loans that are closing today or during this period. (2)Cash buyer purchases and sales without government back loans that are not effected themself. by the shut down. (Conventional, hard money, portfolio or in-house loans and private loans). As always, the phrase cash is King will be heard multiple times today and during this period. (3) Loans of other parties in a multiple transaction that may effect closing dates of non-government backed loans. (4) Debt ratio impact of health insurance increases that may effect buyer debt ratio, etc. (5) Weighing offers on based on loan types. (6) Possible problems with short sales approved during shut down and the need to keep these property listed with contingencies accepting backup offers. (7) Federal bankruptcy delay in processing, filing, and approvals of cases and related claims and delays to releases or obtaining relelases of federal liens.