By Tracy Clemons
ST. LOUIS (KSDK) - People in the process of buying a home could see delays thanks to the government shutdown.
All home loans require the IRS to validate a home buyer's tax returns. But the department that does that is not there to validate thanks to the shutdown.
Matt Balcer with F&B Financial Group says if you are under contract and hadn't gotten that done before Tuesday, you're stuck until the government re-opens. He says the effects won't be immediate, but they're right around the corner.
"Three weeks from Tuesday because that's when you start to get into that final process of that closing, that purchase. Figuring that if a file started Monday or Tuesday of this week, it's about 30 days down the road until it closes. If in three weeks they're not up and running, I would imagine people would start getting in touch with their Congress people," he said.
If you're worried about a delay, you're urged to check with your lender to see what kind of extensions are available to lock in the rate you were approved for.