A Federal Employee Faces A Once-In-A-Lifetime Ordeal—Closing On A House While Being Furloughed. 'This Is Not The Time To Be Closing On A Home'

Core Insights - A federal employee is facing challenges in securing a mortgage due to a government furlough, which has created uncertainty around employment verification and mortgage approval [1][2]. Group 1: Mortgage Approval Challenges - The employee is in the underwriting process with a looming mortgage contingency deadline and a closing date set for a month [2]. - The underwriter has verified income through pay stubs, but the final step of verbal employment verification remains pending, raising concerns about losing the deposit if the lender withdraws [2]. Group 2: Community Advice and Solutions - Commenters emphasized the importance of contacting the loan officer for accurate information regarding furlough-related issues, as they are better equipped to navigate the situation than real estate agents [3]. - Some individuals shared successful experiences of closing loans while furloughed, particularly when working with local lenders who handle loans in-house [3]. Group 3: Contingency Clauses - The mortgage contingency clause in the purchase contract may offer protection for the deposit if financing is denied, although its effectiveness depends on the specific wording of the contract [5].