|
Thursday, April 3, 2008
Help for Homeowner coming soonThere are changes coming from Washington which could benefit the homesteaded property owner. If the property value is
less than the mortgage value owners maybe able to refinance a FHA loan that pays off existing mortgages and is then readjusted
to the current value. So if you had a $200,000 home value and a combined Mortgage of say $240,000 the FHA would pay off the
old mortgages and than re write your new FHA mortgage for the current appraised value of $200,000
Thursday, March 8, 2007
Designated Appraisers
What can we do to protect ourselves from
Dirty Appraisals?
Ask
for a Designated Appraiser. All Dirty appraisals as reported to Congress in regards to the leading factor in the Nation Wide Mortgage Fraud epidemic have been done by NON designated appraisers.
How can Lending Institutions prevent Dirty
appraisals?
By requiring only Designated Appraisers,
this was normal Banking requirements up to the last ten years.
|
