The financial crisis in which the United States now finds itself has had many far-reaching ramifications. Besides the loss of jobs throughout America, the retirement funds and personal investment portfolios of nearly every single American have taken a devastating hit. Another result of this crisis is that the credit market has changed drastically.
With fewer and fewer people buying and selling properties, especially their homes, one might believe that lenders would be clamoring for a borrower’s business. This, naturally, should result in lower rates and an easier process (as the lenders compete for the business).
