January 19, 2012

New Mortgage Rules Making Home Financing Harder

Mortgage rates below 5-percent have people scrambling to refinance. They have also helped breathe new life into the troubled real estate market.

But a new rule has many people shocked to discover their financing is near collapse just days before closing. That’s what happened to Pam and Ted Ten Eyck of Mansfield. They planned to refinance to a 20-year mortgage to put them in a better financial position down the road.

Has an appraisal caused you hardship in getting a loan on the home you own or want to buy? We’d love to hear your story. Just comment using the link below. Your email address will NEVER appear with your comments, even though it is required in order to post, just to eliminate spam-bots who like to crowd up sites like ours.

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