Government shutdown causes delays for home closings - WFLA News Channel 8

Government shutdown causes delays for home closings

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Pinellas mortgage company Pinellas mortgage company
ST. PETERSBURG, FL (WFLA) -

Jessica Warden has been glued to the television, hoping for an end to the government shutdown, so her mortgage loan will be approved. She was supposed to close last Thursday.

"It's been very, very frustrating," she said. "I've lost so much sleep. I feel like I'm being punished because {congress} can't get it together."

Warden rents a condo and her landlord wants to move in a new tenant, but her FHA loan is in limbo. The mortgage company can't contact the government to finalize her paperwork.

It's been a week now, and she needs another extension from the home seller. Mortgage broker Jane Floyd says Warden isn't the only one with paperwork delays, and government USDA loans are completely shut down.

Although most lenders have relaxed paperwork rules during the shutdown, some types of loans can't go forward.

"This buyer is just with many, many buyers," Floyd said. "I don't know how many, but it's significant."

Now that Congress is close to reaching an agreement to return to normal -for now- Warden is hopeful she'll close on her home soon. She says Congress took way too long to get serious about working something out.

"We shouldn't be hurt," she said. "People should be able to get their VA checks. We should be able to move into our homes while they're doing it. Why it has gotten this far is beyond ridiculous."

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