Home loans process could still be delayed despite gov't now open - Tucson News Now

Home loans process could still be delayed despite gov't now open

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TUCSON, AZ (Tucson News Now) -

Government backed home loans delayed by the government shutdown may still be a slow process because of backlog.

While the government shut down for more than two weeks, some people hit a wall during that time trying to get a home loan because some financial information could not be verified by the government.

According to home loan experts,  the majority of home loans in Southern Arizona were not been impacted by the government shutdown. However, those requiring tax transcripts or social security number verification by the Internal Revenue Service or another federal agency had been delayed. 

Despite that delay for some, Marana based Realtor, John Powell, says he spent the day talking with more people Thursday who are now interested in buying or selling a home, "the main thing that we saw here was a slow down throughout the process, in actual new calls coming in. It's good that they got the government opened. We got a call today from a guy that works for the Department of Agriculture who wants to sale his house here in Continental Ranch."

Powell also mentioned others he spoke with are still hesitant about the housing market since the government is only funded until mid-January which could cause another shutdown if lawmakers cannot reach an agreement then.

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