Sunday, October 6, 2013

Buying a house? Maybe take a vacation instead

Isn't this better,
stay in the old house or rent.
Take a vacation, everyone is having fun

San Francisco Chronicle, Carolyn Said, 10/5/13.  "Government shutdown derailing mortgage lending."  

....  "A simple piece of paper from the IRS - the 4506-T tax verification transcript - is required by most mortgage lenders to ensure that the tax returns provided by borrowers are accurate. Many lenders also require verification of a borrower's Social Security number.

With both the IRS and the Social Security Administration closed, mortgage lending at many institutions is at a standstill. Throughout the Bay Area real estate market, the ripple effect of the government shutdown is starting to be felt. If it lasts just a few days, it likely will be a minor inconvenience. But an extended shutdown could create a serious logjam.

....  Even when the government reopens, the agencies will have plenty of requests built up, which means the impact could linger."   Read article.

Note:  photograph from Bay Integrated Marking, "Why workers need vacation every two months."  

Posted by Kathy Meeh 

1 comment:

Anonymous said...

Of course take a vacation and run up more credit card debt, which will not allow you to purchase a house.