@Hobyrim i bought my house 22 years ago. interest rates were 6.78% & my mortgage was around $1200/month. when interest rates dropped, i went to several banks & credit unions trying to refinance at the lower rate of 2.5%. it would have cut $800/month off my mortgage. everywhere i went refused to refinance because "you can't afford that property". um, guys? i've never had a single late payment, nevermind a missed one in 10 years, this new rate is WAY lower, and i can't "afford" it?
@Hobyrim
Banks don't make loans to people that need money. They make loans to people that can prove they can screw other people out of money.