Chicago Sun-Times (04/11/08) ; Elphinstone, J.W.
With investors on Wall Street increasingly jittery when it comes to mortgages, home buyers and owners who have blemished credit or live in high-priced cities are finding it tough to line up home loans. In March, Capitol Hill legislators raised the limits on loans that can be sold to government agencies to $729,750, but large numbers of borrowers are still cut off from financing. New restrictions prevent homeowners from refinancing if they take out more than 5 percent of their equity, or from consolidating two mortgages into one. In addition, buyers in areas where prices are on the decline have to come up with larger down payments.
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