UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next
Author: Lauraly One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127939  
Subject: Amerisave appraisal rejection Date: 1/24/2013 3:57 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
We are in the process of refinancing our house. Amerisave sent an appraiser out who did a full walk through of our house and submitted an appraised value of $400,000. (We owe 306k).

But yesterday we got an email that an appraisal review had been done and they are adjusting the value of our house to $295,000, which is a huge difference!

Now we don't qualify for a regular loan and they are steering us to HARP, which is a higher rate, of course.

What the frell? How can there be such a huge difference? We have a custom home in a unique location with not a lot of other homes nearby. I just don't understand how they can reject their first appraisal so out of hand.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
Kiddie Card Board
Should kids have their own credit card?
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Berkshire Hathaway

Taking Candy From Strangers
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.