A long shutdown could slow some mortgage loans

Julie C. Nichols General

USA Today – Julie Schmit

Lenders face delays in checking new loan applicants’ tax information with the IRS if the shutdown goes into next week.

A short federal government shutdown won’t derail the housing recovery, but it could delay closing of some home loans.

If the shutdown runs less than week, no big deal, lenders and mortgage experts say. Most loans take 30 to 60 days to close, and a short delay in processing won’t likely affect that.

>> Read More: http://www.usatoday.com/story/money/business/2013/10/01/shutdown-mortgage-loans-housing/2903313/