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Great Bargains Out There. Too Bad You Won't Get A Loan To Buy Them
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A Wall Street Journal study finds that banks are increasing the number of mortgages they reject, more than one in four last year. Now, if this had been the case five years ago, we wouldn't have a housing crisis. Prices wouldn't have gone crazy, but we wouldn't have this foreclosure wave. On the other hand, the rejections mean it's harder to refinance to save your house, so we can't win. (Wall Street Journal)
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