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This is a followup to a previous post about troubles with an appraisal review coming in way lower than the original apraisal.

Our initial appraisal came out as 400k and we were happy. That was what we paid for it in 2008. But then we were told that there was an appraisal review done (from a desk in another state), that adjusted the value to 295k. Huge difference!

My husband went back and forth with the lender and eventually got a Vice President on the line who ordered a field review. (I think just to shut my husband up).

The field reviewer was local, actually drove to the house, and came back at the original 400k. So yay! We were able to refinance with a regular 25 yr loan at 3.375% instead of higher HARP rates. We funded yesterday.

We did this through Amerisave, and even though we had to fight for the second review, they were great about it once it came back. They comped the fee for the second appraisal. And they let us lock in at the rate and fee discount that was in place when the first review happened, even though fees had gone up since then.
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