It’s been difficult recently for people with fair credit to get the loans and lines of credit they need to purchase homes, buy cars, and fund small businesses. It’ll be easier in 2012 for the simple reason that banks’ own finances are doing better. Charge-off rates have dropped, and without having to eat old unpaid debt, profit margins are higher and underwriting standards can be relaxed a bit. In other words, more people will get approved for mortgages, credit cards, etc. in 2012.
Melanie Stetson Freeman/The Christian Science Monitor/File
