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

Impact of shutdown on home buying in Southern Arizona

Posted: Updated:
  • Most ReadMost ReadMore>>

  • Union Pacific working to get train cars back on track near Picacho Peak

    Union Pacific working to get train cars back on track near Picacho Peak

    Union Pacific working to get train cars back on track near Picacho Peak

    Tuesday, September 16 2014 11:22 AM EDT2014-09-16 15:22:35 GMT
    Crews are still working to clear the tracks after an overnight derailment in Pinal County. There were no injuries reported and nothing hazardous was on the train cars. Authorities say the track could be cleared up of cars by noon.
    Crews are still working to clear the tracks after an overnight derailment in Pinal County. There were no injuries reported and nothing hazardous was on the train cars. Authorities say the track could be cleared up of cars by noon.
  • Ocean Springs mom warning parents about app

    Ocean Springs mom warning parents about app

    Tuesday, September 16 2014 10:00 AM EDT2014-09-16 14:00:09 GMT
    An Ocean Springs mom is sending a warning to South Mississippi parents. Katrina Johnson wants every parent to be aware of an app that she says is being used by many students to spread hate.
    An Ocean Springs mom is sending a warning to South Mississippi parents. Katrina Johnson wants every parent to be aware of an app that she says is being used by many students to spread hate. Johnson discovered the posts last week, and she says what she read would make parents cringe.
  • Are you prepared for an emergency?

    Are you prepared for an emergency?

    Tuesday, September 16 2014 8:58 AM EDT2014-09-16 12:58:01 GMT
    September is National Preparedness Month and officials are giving a list of the basics that the public should always have on hand in case of an emergency. Always have water, a battery powered flashlight and a first aid kit and have them on hand before an emergency hits. 
    September is National Preparedness Month and officials are giving a list of the basics that the public should always have on hand in case of an emergency. Always have water, a battery powered flashlight and a first aid kit and have them on hand before an emergency hits. 
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 WorldNow