In 2012, according to the Federal Financial Institutions Examination Council, as many as one-third of all mortgage applicants were denied by mortgage lenders. So, if you've been trying to get approved for a mortgage without success, you are definitely not alone. With the state of the economy, it seems you need excellent credit to be approved these days. Unfortunately, the same state of economy, in addition to the credit crisis and unemployment rate, has made the American Dream of home ownership difficult for many people.
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