My blogging on refinance home loan
Applications for mortgage loans hit the highest level in five years last week. About 80 percent of those applications were for refinancing. Unfortunately, a fair number of those who applied were denied. According to a lender in Florida, a very small percentage of those who contacted him in the last couple weeks to refinance have actually been approved. Some homeowners that purchased in areas like South Florida that have experienced a decline in values are finding that they owe more on their mortgage loans than their homes are worth now.