Saturday, February 9, 2008
Refinancing: Please one more fix!
The good news: mortgage rates are down. The bad news: it's much harder to qualify for a refinanced loan these days. "I'm turning away about 60% to 75% of the clients who come to me for a refi," said Bob Moulton, president of Americana Mortgage Group on Long Island, N.Y. "Some don't have enough equity and others have bad credit scores."