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When inquiring for refinancing my mortgage, Loan Officer took upon himself to order appraisal of my house, although I did not sign any loan application papers. He did inform me over the phone that he was ordering the appraisal and I agreed. The house price came back too low and thus I did not go ahead with the loan application. The bank charged me the appraisal. Can I claim refund of this fee. Again, no loan application papers were signed by me and importatnly no signed form to authorize the appraisal.

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

forget regulations... how about right and wrong... you called them for a loan... surely you understood that your house would need to be appraised... when the broker told you this you gave him your credit card number to pay for the appraiser to come out and appraise your home... what do you think the appraiser should work for free ? he dont have a wife and kids to feed and clothe? Why do you think the bank should pay for this? you called them for the loan... you were in no way duped or mislead. Your point of you never signed a loan application is merely your excuse for not wanting to pay the appraiser for his services ... that you wanted so you can get your loan... the only 2 problems that i see with this entire situation is that you want to be a deadbeat on paying the appraiser for his time and services and that a bank would even consider offering you a loan for 125% of the value of your collateral

Like | Dislike | Share | Posted: Sat, 06/16/2012 - 05:14 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Why should the loan officer pay if YOUR house didn't appraise? How can you be so ignorant? Be a responsible person.

Like | Dislike | Share | Posted: Tue, 07/03/2012 - 18:35 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Yes, it is not the fault of the loan officer or the appraiser if your property doesn't appraise. The market is such that a large number of people have lost equity in their properties.

Like | Dislike | Share | Posted: Tue, 07/03/2012 - 23:13 | Post subject:

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