Who can I turn to if I believe a bank denied me a loan and pulled some shady tricks in the process?
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No one has to come by your house to make an appraisal. For it to be worth less then it was 2 years ago would not surprise me, but 10?
Ask to see the appaisal, you are legally entitled to see it. There may be a mistake on your square footage (only the footage with permits counts) or on your lot size.
They have nothing to gain being "fishy" so you will make more progress trying to find the real problem.
Who can I turn to if I believe a bank denied me a loan and pulled some shady tricks in the process?Sorry for your problems, but a few things could be going on:
1. Home values in your area could seem to be depreciating because of an influx of new homes;
2. The appraiser used comps that didn't benefit you. If there have been few sales in your area, the appraiser can legitimately go outside of the area to look for recent sales.
3. The improvements that you made were important to you, but didn't increase value. For instance, a pool is not an improvement, however remodeling a kitchen or bathroom is.
You can always go to a different lender, who will then choose a different appraiser.
Who can I turn to if I believe a bank denied me a loan and pulled some shady tricks in the process?check the value of your home by going to this webiste www.zillow.com type the address an zip.an get your homes value or close to it
make sure that you get to see the appraisal sheet an make sure that it's in your area
Elia Santiago
www.indymortgagesaver.com
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