Have the credit approval standards significantly tightened with regards to refinancing either a home or auto…?
With a credit score that, under normal circumstances, would be one which would qualify for some very favorable rates, it seems as if this market has tightened significantly as the recession has gone along. I would think, though, that lenders should be able to view a clean payment history on all types of payments (mortgage, auto loan, credit cards) as a positive to offer their services at a more favorable interest rate which would allow already clean payments to more easily be made (since they’re of course going to be reduced). I just want to be sure I’m not missing the boat on something. Thank you ver much in advance for any responses and/or advice…
