Posted by Matt_VA on 10/5/13 8:49am
Msg #487097

Govt. Shutdown

Very scary article in the Washington Post basically saying that without government workers to process 4506-T and W-9 among other info, loan processing stops in it's tracks. Hope this link will work, if not well worth a search. Bad Bad news!

http://www.washingtonpost.com/politics/shutdown-will-stall-home-loans-for-thousands/2013/10/04/47b8cb10-2c4a-11e3-97a3-ff2758228523_story.html?hpid=z1

Reply by Linda_H/FL on 10/5/13 9:20am
Msg #487099

If you look in JP Bear900 posted about a proposed

workaround for this issue.

Reply by sueharke on 10/5/13 1:33pm
Msg #487125

Taxpayers will be able to get transcripts of their tax returns in 7-10 days by mail. Third parties will have to wait until the government is open for business again. This is from the IRS.

Reply by Linda_H/FL on 10/6/13 8:16am
Msg #487141

And if what has been posted about this is true

this will do no good at all because lenders/underwriters won't accept copies from applicants. And what are the chances IRS will take the time to certify the copies - I figure slim to nil.

So Catch 22 and vicious circle

Reply by sueharke on 10/7/13 12:26am
Msg #487187

Re: And if what has been posted about this is true

Think of it as a certified copy of college transcripts in the original envelope they are mailed in. If the IRS envelope is not opened, is it possible that the the lender will accept the information?