November 18, 2024 3:15 pm
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Refi market in Ariz. nearly zippo, says mortgage banker

tight-lending-standards-tight-mortgage-markets-banks-not-lending-2012-nar-profile-of-home-buyers-and-sellersBy Catherine Reagor | The Arizona Republic

Refinancing is tougher now for many homeowners because of tighter lending guidelines. Even former Federal Reserve Chairman Ben Bernanke says he is having trouble lowering the interest rate on his house.

This month, he told a crowd at a Chicago conference on senior housing that lending guidelines are so tight he hasn’t been able to refinance.

“Unfortunately, Bernanke, like many, found that tightened credit guidelines do not discriminate, especially to those who recently became self-employed,” said Amy Swaney, manager of the Scottsdale office of Citywide Home Loans.

Continued:

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.