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Loan Modification
: Mortgage Lender Implode-o-MeterForeclosures Send Home Appraisals Plummeting
By Implode-Explode Heavy Industries
Across the country, agents and homebuilders are complaining too many appraisals are coming in low, scuttling deals.
The National Association of Realtors says nearly one in four of its members has reported clients losing a sale due to botched appraisals. The National Association of Home Builders, meanwhile, said low appraisals were sinking a quarter of all new home sales and argues it's not fair to compare distressed properties to brand-new homes.
Full post as published by Mortgage Lender Implode-o-Meter on January 04, 2010 (boomark / email).
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