Random thoughts about home loan
The recent credit crisis caused them to tighten their lending standards. So although there has been an increase in mortgage refinancing applications, many of those are being denied. Lenders are being very cautious in the current economic climate, regardless of the rates. They are examining credit reports more closely and will only approve consumers with high credit scores. Approval for mortgage refinancing today requires that applicants have cleaner credit histories and better credit scores than in the past.