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 ppalmen
Joined: 18 Jun 2009
Posts: 2
2.07 Dollars($)
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 Posted: Thu Jun 18, 2009 1:00 pm Post subject: Frustrated with mortgage company and not happy with appraisa |
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Went to refinance and everything was good so I was told to get the appraisal done, the mortgage company sent an appraiser out and I paid 375.00. The comps that the mortgage company received prior to the appraisal was 224,000 - 225,000 which is where I needed it to be. The mortgage company was confident there would be no issue.
Monday I received a call from the mortgage company that the appraisal was only for 210,000 and at this time there is nothing they can do for me unless I can bring about 5,000 to settlement which I can't.
I don't have a question I just need to vent because I really wanted to go from a 7.5% to a 4.75%, not only did that not happen I ended up spending 375.00 and nothing to show for it. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 9749
Location: bloomfield, ct
35.02 Dollars($)
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| Posted: Fri Jun 19, 2009 10:10 am Post subject: |
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it's a story that repeats itself all around the country these days. values have dropped, and that affects everyone who attempts to refinance, and of course it's a favorable effect for those who desire to purchase. there's not much anyone can do about it - just wait for the upward correction, i suppose.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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manoj_gopale
Joined: 16 Feb 2009
Posts: 481
0.59 Dollars($)
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| Posted: Mon Jun 22, 2009 3:13 am Post subject: |
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ppalmen,
everywhere person rely on the single word' hope for better'. when one gets disappointed person just moves with another type of hope.Lets hope for better upward correction.
keep in touch............ |
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Appraiser Value
Guest
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| Posted: Tue Feb 09, 2010 4:19 pm Post subject: Appraiser is not here to help you |
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| Incorrectly people think that the Appraisal is done for them. The Appraiser has to be unbiased and just do his or her job. Just because you need a magic number, to bad, tough. The Appraiser may be higher or lower or the same. all you shoud expect is for them to be honest and hardworking and analyze the data properly and if they disagree with you, look in the mirror because maybe just maybe you are the problem and not the Appraiser. To many borrowers think that what they paid or did has something to do with the answer, forget that and look at the majority of the data today, not yesterday or last year or some other point in time. Most people that bought within five years or so are losers in todays economy and are upside down, if that is you, than you are normal. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 9749
Location: bloomfield, ct
35.02 Dollars($)
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| Posted: Wed Feb 10, 2010 6:57 am Post subject: |
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it's a harsh reality, but that's the facts, jack.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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