Lenders get tough on refinancing

Home-equity lenders are starting to say no to homeowners with good
credit who want to refinance their primary mortgages, something that
was once routine. Getting a new home-equity loan to replace the old one
in order to get a refinancing approved has become difficult, after the
credit crunch forced lenders to tighten standards. That has left some
borrowers unable to lower their rates or lock in a fixed-rate mortgage
by refinancing.