refinance

Street Cents
4:30 am
Tue February 7, 2012

Rough time refinancing? Try again.

Bank vault full of cold, hard cash.
Adolph B. Rice Studio Collection Library of Virginia

Is it true that there there's a bank vault out there full of cold, hard cash that's now available to people trying to refinance? That's what KPLU's John Maynard asked Seattle-area real estate appraiser Richard Hagar when he dropped by KPLU's studios recently. Without skipping a beat, Hagar responded:

"The good news is if you've missed some mortgage payments or you were in foreclosure, banks now have more cash available. And they've loosened up the purse strings a bit."

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