New Mortgage Rules Making Home Financing Harder

Mortgage rates below 5-percent have people scrambling to refinance. They have also helped breathe new life into the troubled real estate market.

But a new rule has many people shocked to discover their financing is near collapse just days before closing. That’s what happened to Pam and Ted Ten Eyck of Mansfield. They planned to refinance to a 20-year mortgage to put them in a better financial position down the road.

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