Loans are available, but there are new rules
, Staff Writers
The Federal Reserve cut its leading interest rate Wednesday, but the ripple effect that usually comes from such a cut isn't expected to help consumers soon.
Banks continue to tighten their requirements for mortgages, car loans and in-store financing. Gone -- perhaps for good -- are the days of no down payment and 100 percent financing.
Instead, lenders want to see verification of income, a good credit score and a down payment.
However, that's not to say those loans are impossible to get.
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