Shutdown puts home loans on hold

Home loans on hold

If living in a home on land with animals can be a symbol of freedom and new life, consider Ruth Workman liberated. At least, on her way there.

Workman just moved from Auburn with her dogs, cats and barn animals only to find her house wasn't ready. So instead, she's stuck.

"For another two to three weeks," she said.

It's not the fault of the lender or realtor or Workman, but a paperwork delay from the federal government shutdown. For now, she's staying in a trailer at Lady Raven Stables in north Spokane with her son and daughter-in-law.

"We had five dogs, three adults, and three cats (staying in here) so yeah, it's kind of tight," she said.

Ruth is one of many waiting for her home because of the shutdown. FHA, VA, and other loan approvals are on hold. People who need income verification through the IRS are not getting an answer, because it's closed.

"Not knowing what to do. Paying storage, paying rent, when we could be in our new home and have all of my animals with me," said Workman. "Now, I can't."

Realtors say patience is key and most conventional loans are still on track. They say while this hold up is a result of the disagreement in congress, home sales are often delayed for other reasons.

"Now is a great time to be buying a house...just realize that processing of loans may take a little longer," said Rob Higgins, the Executive Director of the Spokane Association of Realtors.

Until Ruth's home owning process gets back on the saddle she'll wait, and she'll see her donkey as a symbol.

"Here's what I think of the government, haha," she laughed pointing at the animal.