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naomi_fbee
Guest
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 Posted: Mon Nov 26, 2007 5:06 am Post subject: What if one doesn't get Appraisal Report prior to Refinance? |
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I am in the process of refinancing my mortgage for a property that I won in Michigan. But I'm in for the services of a lender who'd had his men do the appraisal. I thought, being the borrower I should be getting a copy of the appraisal . I haven't been refused but there has been no action taken on this part by the lender. Is there any agency where I can complain and make the lender send us proper documents in time so that later on I don't have to muddle with the law.
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 sara
Moderator
Joined: 05 Jul 2006
Posts: 1679
Location: New Brunswick, New Jersey
315.11 Dollars($)
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| Posted: Mon Nov 26, 2007 5:12 am Post subject: RE: appraisal report |
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Hi naomi,
Welcome to the forums.
I guess you are entitled to get a copy of your appraisal report. Why don't you call up the appraiser and directly get the report from them. I don't they'll deny. In case you don't get one, you might report it to the State Department of Banking and Finance. They may help you out.
Take Care |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.49 Dollars($)
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| Posted: Mon Nov 26, 2007 6:53 am Post subject: |
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Hi Naomi,
I think Sara is right. You are entitled to get a copy of the appraisal. The broker pr the lender requires providing you a copy of the appraisal. You should ask them to give you the copy; otherwise you can file a complaint with the state financial institutions department.
Hope this will help you. Feel free to ask if you have further questions.
Thanks,
Larry |
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evolovik26
Community Experts
Joined: 15 Aug 2007
Posts: 538
Location: Minneapolis
28.93 Dollars($)
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livinginnky
Moderator
Joined: 08 Sep 2007
Posts: 637
29.96 Dollars($)
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| Posted: Mon Nov 26, 2007 10:50 am Post subject: |
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Eugene is correct.
You must call the lender as the appraiser actually works for them. You have a right to see the appraisal but again, the appraisal typically belongs to the lender. Thats right even though they probably required you to pay for it up front.
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Eric Matthews
Mortgage Refinance and Home Loan Guide |
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mikeshapiro
Joined: 04 May 2007
Posts: 67
Location: Phoenix, AZ
27.31 Dollars($)
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| Posted: Thu Jan 03, 2008 2:33 pm Post subject: |
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Eugene/Eric...
Thanks. Sorry I've been away for so long, it's been absolute madness lately around here.
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jbarto65
Joined: 04 Nov 2007
Posts: 623
-0.20 Dollars($)
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| Posted: Fri Feb 08, 2008 11:52 am Post subject: |
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Welcome back Mike,
naomi_fbee, as everyone said, call the lender and tell them a copy of the appraisel, shouldn't you know what you are purchasing. I would not sign the paperwork unitl I got it. |
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