General Discussion

snooper2

(30,151 posts) Tue Oct 1, 2013, 10:49 PM Oct 2013

So no new house loans are going through now

Let's see how fast that pisses people off-

Was listening to the Russ Martin show earlier and he had Rodney Anderson (realtor) on. They asked him what, 5-6 weeks, he guesstimated no more than two probably one for the shutdown. When the IRS is back and if he has all paperwork in place they can run the tax record verification stuff and have it back within 48 hours.

Stupid ass republicans-

8 replies

= new reply since forum marked as read

Highlight:

So no new house loans are going through now (Original Post) snooper2 Oct 2013 OP

I have a friend who is a real estate agent and she's mad meadowlark5 Oct 2013 #1

OOPS! elleng Oct 2013 #2

I thought the same thing Harmony Blue Oct 2013 #3

I heard him say something like for a day or two but that's it after that-- snooper2 Oct 2013 #8

Only new government backed FHA/VA loans will be held up Sedona Oct 2013 #4

So the complete lack of new home sales explains why stocks went up today DJ13 Oct 2013 #5

Not a complete lack.... Sedona Oct 2013 #6

That doesn't necessarly explain anything. Travis_0004 Oct 2013 #7

meadowlark5

(2,795 posts)

1. I have a friend who is a real estate agent and she's mad

Reply to snooper2 (Original post)

Tue Oct 1, 2013, 10:53 PM

Oct 2013

She has a client right now that was going to put a contract on a house but now can't because they were going to use FHA for the loan. I'm sure her clients aren't the only ones in this country now on hold and losing their home purchase because of it.

elleng

(130,964 posts)

2. OOPS!

Reply to snooper2 (Original post)

Tue Oct 1, 2013, 10:58 PM

Oct 2013

Daughter just got contract on a house, 'closing' to occur Nov. 15, baby due Dec. 23. Hope things work for her (and others.)

Harmony Blue

(3,978 posts)

3. I thought the same thing

Reply to snooper2 (Original post)

Tue Oct 1, 2013, 10:58 PM

Oct 2013

but my loan officer said that FHA is open for now.

I am hearing, and reading a lot of contradictory information. I will probably have to make a lot of phone calls and emails tomorrow to sort this out.

snooper2

(30,151 posts)

8. I heard him say something like for a day or two but that's it after that--

Reply to Harmony Blue (Reply #3)

Tue Oct 1, 2013, 11:32 PM

Oct 2013

People don't usually get pissed off until something directly affects them, sad state of affairs but that's how it is-

Sedona

(3,769 posts)

4. Only new government backed FHA/VA loans will be held up

Reply to snooper2 (Original post)

Tue Oct 1, 2013, 11:00 PM

Oct 2013

Not all mortgages are government backed.

Loans already in the pipeline should go through.

DJ13

(23,671 posts)

5. So the complete lack of new home sales explains why stocks went up today

Reply to snooper2 (Original post)

Tue Oct 1, 2013, 11:01 PM

Oct 2013

That irrationality by Wall St is why I no longer invest.

Sedona

(3,769 posts)

6. Not a complete lack....

Reply to DJ13 (Reply #5)

Tue Oct 1, 2013, 11:06 PM

Oct 2013

for the the 1%ers cash is king.

Travis_0004

(5,417 posts)

7. That doesn't necessarly explain anything.

Reply to DJ13 (Reply #5)

Tue Oct 1, 2013, 11:25 PM

Oct 2013

Wall street trades on new information. If most of Wall street guessed that the government was going to shut down, then stock prices reflected that fact, so when it actually happened, there is no reason to actually sell stocks, because that was done on friday.

Reply to this discussion