Home Appraisal Pressure

Physician's Money DigestMarch31 2004
Volume 11
Issue 6

How much is the house you want tobuy really worth? Most mortgage lendershire a house appraiser to crunch the numbers,but a recent study by OctoberResearch reveals that more than half ofall appraisers feel pressured by lenders toinflate the value of the homes they lookat. According to the report, 55% ofappraisers surveyed say that they have feltsuch pressure and more than a quarter ofthem say it happens in more than half ofthe cases they handle. Mortgage lenders,who have been feeling the squeeze from adrop in refinancings, may use the highervaluations to collect the larger fees thatcome with bigger loans.

Related Videos
© 2024 MJH Life Sciences

All rights reserved.