Impact of shutdown on home buying in Southern Arizona - Tucson News Now

Impact of shutdown on home buying in Southern Arizona

  • Most ReadMost ReadMore>>

  • Closed captioning information

    Closed captioning information

    Tuesday, March 22 2016 4:07 PM EDT2016-03-22 20:07:47 GMT
    Tuesday, March 22 2016 4:07 PM EDT2016-03-22 20:07:47 GMT

    FCC rules require broadcast stations to make sure that complaints about closed captioning can be easily made, and addressed in a timely manner. Station point of contact information for immediate concerns

    FCC rules require broadcast stations to make sure that complaints about closed captioning can be easily made, and addressed in a timely manner. Station point of contact information for immediate concerns

  • About Tucson News Now

    About Us

    About Tucson News Now Tucson News Now is the Internet home for KOLD, the CBS affiliate in Tucson and KMSB, the FOX affiliate in Tucson. On Feb. 1, 2012, Raycom Media, Inc., which owns KOLD and the Belo

    Learn more about Tucson News Now.

  • BREAKING

    ACTION DAY: Rain, mountain snow coming to southern Arizona

    ACTION DAY: Rain, mountain snow coming to southern Arizona

    Saturday, December 16 2017 6:25 PM EST2017-12-16 23:25:16 GMT

    The KOLD News 13 weather team has called a First Alert Action Day as rain and mountain snow are expected to hit southern Arizona Sunday.

    The KOLD News 13 weather team has called a First Alert Action Day as rain and mountain snow are expected to hit southern Arizona Sunday.

TUCSON, AZ (Tucson News Now) -

The government shutdown is also affecting first time home buyers who are eligible for certain government underwriting programs.

Federal Housing Administration loans are used by many first-time buyers with low or moderate income.  Those buying a home for the first time might have to wait until the government reopens to buy a house.

The government shutdown has housing applications piling up until federal employees are able to get back to work.  Also, home loan lenders cannot confirm tax transcripts and social security numbers when trying to approve almost any type of home loan.

For those who are expected to close in the coming weeks might have to wait until the government is back up and running.

If the government shutdown goes on for much longer local real estate agents fear the effects will be damaging to the Southern Arizona housing market.   The biggest issues being consumer confidence.

Real estate agents are also concerned because if they are unable to close a deal, they do not get paid their commission.

Copyright 2013 Tucson News Now All rights reserved.

Powered by Frankly