Lending Market Still Tough for Refinancing

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By Jon Brent

Story Published: Jun 4, 2009 at 7:41 PM EST

Story Updated: Jun 4, 2009 at 7:41 PM EST

The housing market is facing a catch 22.
For new home buyers, you couldn't ask for a better time to buy. But for struggling families seeking to refinance, credit markets are so tight you couldn't fly a flea through them. One mortgage consultant says the state of banks is making it hard for the huge numbers of homeowners seeking to refinance, to save their homes.
In this Central Valley Focus, certified mortgage consultant, Monique Runge helps us pull the curtain back on the lending market, where it remains tough out there with few if any signs of improvement.

Wednesday, Jun 17 at 5:57 AM sonya Cade wrote ...

Check out http://obamamortgage2009.blogspot.com or obamamortgage2009.blogspot.com There needs to be a program for the elderly but not quite to retirement age for mortgage modification when the have lost their job during this particular recession. I made a decent wage because I put my time into a company and now have no job. I am looking at $10 - to $12 hr jobs after working all my life. You can't make a mortgage payment on that kind of money. I will eventually lose my home.

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