CNN PRODUCER NOTE Trejo says she and her husband were all set to go to buy a home, but then the government shutdown prevented them from securing the interest rate they wanted for their mortgage. 'The USDA office closed when the government shutdown began. Our loan was three to four days away from being finalized when the shutdown occurred. All communication from the offices in Portland -- this is information gathered from our broker -- was that loans were on hold until the shutdown ended. They had an option to renew their interest rate, but at the cost of $800. Unforunately, they were unable to pay that penalty, and their interest rate increased. Now they are unsure of whether they will be able to move into that home. 'We decided to just let it expire and eat the interest rate hike,' she said. 'I'm beyond annoyed that competent, intelligent people took this long to play with their political power before reaching an agreement. I realize the complexities of government, and I realize that there are layers of agenda with both parties, but I trust them even less than before. I'm disappointed with the President, with the Congress, and with the Senate.'
- Jareen, CNN iReport producer
I started packing excitedly about three weeks ago. This was going to be our first home, and with three little kids under 5, we needed our own place. As soon as we heard we'd been approved for a USDA loan locally, we brought out the boxes. All we had to do now was wait for approval in Portland. I was already decorating my new house in my mind and could barely sleep thinking about the idea of starting our memories in our new home.
I was marking my calendar. Our broker said we were about 15 away from the top of the list, so it should be about three more days until we signed! I remember watching the news, barely paying attention to the huge headlines, "GOVERNMENT SHUTDOWN EMINENT." What did I care? That kind of stuff never affects "regular" people. That same day I got the email from our broker:
"Please call me when convenient. Your interest rate is about to expire."
And that was just the beginning. Not only did we have to let it expire, increasing risk that we'd have to pay a higher interest rate, but we would also have to pay a penalty of $800 if we wanted to renew it. With my husband working as a resident (usually residents get paid a teacher's salary), and my staying home to take care of our kids, we just didn't have the funds to pay the penalty. So we lost our rate and have to some how cover the increased cost of a new rate. Assuming we even get the house.
Right now, I'm just trying not to trip over my half-filled boxes.
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