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Shutdown shuts out home buyers
Honeoye Falls, N.Y. Kelli and Christopher Doe are looking forward to the day when they can unpack their car trunk. They dont know when that will happen since theyre waiting for the federal government to end its partial shutdown which has stalled their efforts to get a loan backed by the government.
For us its really important, said Kelli Doe. We dont have a lot of money to put down or anything so this was a really good option for us.
Because of the shutdown the Does, who were two weeks from their closing date cant get the certificate they need from the United States Department of Agriculture to close on the their home.
Its really disheartening, said Christopher Doe. We put together the time and effort to get all of our financial information all organized and prove that we could afford this house."
Approximately 100 U.S.D.A. files handled by Brightons Premium Mortgage are likely to be delayed in the next 10 business days, according to the company.
The shutdown goes beyond the U.S.D.A. backed loans. Lenders order tax transcripts from The Internal Revenue Service that show that the tax returns given with the loan application match what is on file with the IRS, said Amy Bell, Loan Officer with Premium Mortgage.
Every single loan program requires this so we can make sure there is no fraud on the account, said Amy Bell, Loan Officer for Premium Mortgage. "But the loans are not being processed because of the shutdown."
The transcripts need to be in the loan file for a home purchase to close, said Bell.
Some people think theres no mortgages available, but thats not true, explained Bell.
The Does said they want Congress to end the shutdown and allow for their loan to be processed.
Id like them to stop acting like children, said Christopher Doe. Its one side versus the other and both of them are kicking and screaming.
Words are no longer enough. Those members of the Majority who claim that they want to end the government shutdown get the opportunity today to stand up and vote. As I said the other day when we had the same opportunity, I would like them to put their voting cards where their mouths are, said Rep. Louise Slaughter (D-NY).
Home buyers, like millions of Americans across the country, are feeling the ill-effects of the government shutdown that could have been avoided with compromise. In the three continuing resolutions passed in the House, the government would have been fully funded and home buyers would not be experiencing these delays. Although the Senate dismissed each House-passed CR, we will continue to act in the House to stem the damage being done and get the government back up and running for home buyers and every other American. Taxpayers deserve a government that is willing to come to the negotiating table. The more bills we pass in the House funding and protecting Americans, the more the Senate will see the work being done and want to come to the negotiating table to help, said Rep. Tom Reed (R-NY).