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Former Federal Reserve Chairman Ben Bernanke revealed last week that
he was turned down when he tried to refinance his home loan.
According to Bloomberg News, Bernanke, in speaking at a conference in
Chicago Thursday, told the crowd, “I recently tried to refinance my
mortgage and I was unsuccessful in doing so.”
“I recently tried to refinance my mortgage and I was unsuccessful . . ."- Ben Bernanke
The audience reportedly laughed, and Bernanke responded: “I’m not making that up.”
“I think it’s entirely possible” that lenders “may have gone a little bit too far on mortgage credit conditions,” he said.
Bernanke also told the conference of the National Investment Center
for Seniors Housing and Care that the first-time homebuyer market is
“not what it should be.”
Bernanke was paid $199,750 annually as head of the central bank and
reportedly earned $250,000 in March for his first public speaking
engagement since stepping down in January.
He also reportedly received $1 million in a deal to write his memoirs.
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