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PARK CITY REAL ESTATE

tel Call : 435.901.8333

What does the Federal Government Shutdown mean for you?

October 3, 2013 by Brad Jensen Leave a Comment

The Federal Government shutdown may affect certain home loans in the short term.

•         FHA Loans: The approval process may be slowed due to limited FHA staff to respond to questions and complete reviews.

•         VA Loans: With the Department of Veterans Affairs continuing to operate as normal, VA Loans will not be adversely impacted in any way.

•         USDA Loans: No new loans or guarantees will be made.

•         Internal Revenue Service: The IRS will not process any forms, including tax transcripts, which are required for loan closing.

•         Social Security Administration: The SSA will likely not be able to verify Social Security numbers, which is required for loan closing.

•         FEMA Flood Insurance: It is likely that mapping issues or amendments will be impacted.

•         Fannie Mae and Freddie Mac: Fannie and Freddie will not be directly affected, except to the extent that they rely on verification and other functions of HUD, the IRS, and the SSA.

 If the government shutdown lasts only for a few days, the above scenarios may have little to no impact on Academy’s operations. A shutdown of longer than one week, however, will have a more significant impact on how Academy conducts business. I will keep you informed as more information becomes available.

Don’t hesitate to contact me with any questions or concerns.

Amy Sharpless, Academy Mortgage, Senior Loan Officer
Mobile 435-640-1878 Address 1526 Ute Blvd #207 Park City UT 84098
NMLS #294849 UT State Lic# 5460939  Corp NMLS #3113 Corp. UT State Lic#5491140-MLCO

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tel Call : 435.901.8333

About Jensen and Company

Brad Jensen has been a top realtor since 1988. He is one of the most respected agents in Utah and would be happy to assist you in selling your home or buying a new home. It is Jensen and Company's goal to help make your real estate transaction as easy and stress-free as possible. Our blog has lots of great information and market intelligence to help you learn more about the Park City real estate market. Please contact us if you have any questions. We would be happy to assist you.

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ftel Call : 435.901.8333

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  • About
    ▼
    • Testimonials
    • Our Videos
    • Contact Us
    • Blog
  • Search
    ▼
    • Significant Sales
      ▼
      • Luxury Mountain Living
    • Featured Properties
    • Property Search
    • Most Recent Properties
  • Park City
    ▼
    • Buy in Park City, Utah
    • Sell in Park City, Utah
    • Park City Homes & Condos For Sale
    • Park City Real Estate
  • Deer Valley
    ▼
    • All Deer Valley Real Estate
    • Deer Valley Homes & Condos For Sale
  • Communities
    ▼
    • Old Town
    • Thaynes Canyon
    • Lower Deer Valley
    • Deer Crest
    • Upper Deer Valley
    • Empire Pass
    • Aerie
    • Prospector
    • Park Meadows
    • Canyons Village & Colony
    • Sun Peak | Bear Hollow
    • Silver Springs
    • Old Ranch Road
    • Kimball Junction
    • Pinebrook
    • Summit Park
    • Jeremy Ranch
    • Glenwild | Silver Creek
    • Trailside Park
    • Promontory Area
    • Jordanelle Area
    • Midway | Charleston
    • Heber City
    • Kamas & Marion
    • Huntsville – SnowBasin
  • Buy
    ▼
    • Deer Valley Real Estate
    • Park City Homes & Condos For Sale
    • Park City Real Estate
    • Deer Valley Homes & Condos For Sale
  • Sell
    ▼
    • Why Sell With Us
  • Discover
    ▼
    • Park City Events Calendar
    • Featured Attractions
    • Local Ski Resorts
    • Park City Local Vendors
    • Our Infographics/Resources