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Refinancing Remains Tough in Current Housing Market

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Ben S. Bernanke, former chairman of the Federal Reserve, revealed that attempting to refinance a home loan continues to be so difficult in the current market that even he got turned down from a refi request recently.

“I recently tried to refinance my mortgage and I was unsuccessful in doing so,” he said. “I’m not making that up.”

In fact, Bernanke believes that lenders “may have gone a little bit too far on mortgage credit conditions.”

Image via flickr/Simon Cunningham

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