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Appraisal done on wrong property

Posted on: 02nd Aug, 2010 04:16 pm
recently we refinanced our home mortage. we were told that we need to have $5,000 at closing to get us to the 80/20 ltv, which we complied with to get the refinance completed. we asked for a copy of the appriasal after we closed because we never received one. after reviewing the report, it appeared that they appraised the wrong property. i contacted the appraiser and he said, i remember that appraisal. it was this property and this house.....i said that isn't our house (i had a black and white copy and couldn't see a clear picture of the house but it clearly did't look like our house). he appraised the house next door. he admitted his error and indicated that i would need to contact the back to see what could be done. what is the legal recourse do we or should we take?
If the loan already closed, then I would keep your mouth shut. Saying something can do more harm than good. You have nothing to gain and only stand to lose.
Posted on: 02nd Aug, 2010 06:12 pm
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