Buying a home is supposed to be an exciting time, but disagreements in Washington put a damper on that for some people in our area.
The shutdown is over, but it now has federal workers playing catch up on paperwork. Now, potential home buyers might have to sit and wait even longer to get the keys to their new home.
Some people managed to close on a home this week in our viewing area despite the shutdown, but there's still a lot of people who are left in limbo when it comes to buying a place they can call home.
"We knew we would have an impact, but how big is the question," said David Henry.
Henry is the regional director of business development for Atlantic Bay Mortgage Group.
Word of a government shutdown had millions of Americans wondering how they would be affected, especially those trying to sign the line to a new home.
"Obviously they're nervous about the transaction to begin with and then you throw that wrench in there and it makes it even more uncomfortable," he said.
Henry said he knew potential buyers were going hit dead ends.
The IRS closed along with the Social Security Administration making it difficult for people to get loans and mortgages and ultimately delaying closings for both the seller and the buyer.
"That was a little bit of a glitch because that made it a little harder on the lenders and they started scrambling and doing different things to make it work," said Roanoke Valley Association of Realtors president Betty Kingery.
Loans from the United States Department of Agriculture got hit the hardest leaving lenders searching for other ways to get the sold signs up during the shutdown.
Kingery said some buyers had to bring in the same paperwork they filed before as they all worked together to go down a different route in an effort to get homes sold.
Some lenders in the Roanoke area even made the decision to take a big chance that could be a loss for them.
When the IRS closed, it suspended the processing of all forms, including requests for tax return transcripts. Those transcripts are required by many lenders for loans. As a result, some lenders went without the transcripts.
Washington is back up and running, but many fear a domino effect when it comes to processing paperwork.
"There will be delays,” said Kingery.” There will be definite delays because there has to be a pile up somewhere."