Mortgages Get Denied Due To Low Ball Appraisals
I have mentioned this time and time again. This is one of the many reasons that the interest rates and fees should not be what you are most concerned with. It is obvious that you want to get a good deal and not be taken advantage of but there are other questions you should be asking when choosing your Mortgage Professional.
We at FEMBi use our own appraisers and rotate them so we are compliant with the appraisal standards. We are not having the issues the article, “Low-Ball Appraisal: Mortgage Denied” is talking about.
You find the home of your dreams. You’re pre-approved for a mortgage. You’ve scheduled the closing. Then … the appraisal comes in too low and the deal blows up……..