Homeowners may be able to refinance mortgages

It used to be your lender could simply agree to refinance your loan. But lenders these days are very wary. Refinancings are increasingly difficult to qualify for and borrowers whose incomes have fallen along with the economy may no longer be able to get a new loan.

That's leading thousands of real estate-troubled South Floridians to seek out private lenders who offer loans that are insured against default by the Federal Housing Administration.