Buyers are the bright spot of the housing market right now - there are lots of them out there looking at a dwindling pool of homes.
But not everyone who is looking is going to be able to get a mortgage - in fact as many as 40 percent of potential buyers are getting the brush off by lenders.
And you need a higher credit score than ever before - above 720 to get the best rate and above 680 just to buy, according to Bankrate.
Meanwhile, banks may be swimming in profits, but they are making no effort to ease historically tight lending standards.
The Federal Reserve's quarterly survey of loan officers, released earlier this month, found no easing up on mortgage requirements, even as demand rises as buyers jump back in.
Even worse, it's not uncommon for buyers to get fairly far down the road with their mortgage paperwork only to find the bank suddenly bails on them or goes unresponsive.
The good old days of liar loans are long gone, it would seem.
What's your mortgage story? Were you able to get a loan and buy, or did you get the runaround? Should banks ease up? Or is this a needed correction given the loony mortgage lending of the bubble years?
Do you have a mortgage horror story you'd like to share?
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