Maybe it’s just the point in our lives, but it seems that the availability of home mortgage money mirrors that of college tuition: There are some terrific programs for the needy, the wealthy always find a way, but those in the huge middle category often have few options.

Some longtime homeowners and perfectly qualified "new-generation" buyers who have been on the sidelines are having extreme difficulty in getting financing — or refinancing their present loan. The pendulum has now swung from "no loan ever rejected" to "no loan good enough for funding."

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