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Lenders usually require consistent income to refinance mortgage
Lenders usually require consistent income to refinance mortgage

WASHINGTON — Ed Fine's recent rejection for a refinancing of his home loan wasn't exactly like former Federal Reserve Chairman Ben S. Bernanke's. But there are enough similarities to raise questions about current tight mortgage market standards and how lenders scrutinize applicants' incomes. At the very least, there are lessons for anybody who can't document months of steady, predictable income, whether from salary, regular retirement fund drawdowns or other sources. Bernanke's refi blow-up has been widely publicized. He didn't specify why he was turned down or by whom, but mortgage industry experts say most likely it was because he experienced...

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