Appraisal based on forclosed comps??We are trying to refinance our home to a much lower rate. Everything was going great up until the appraisal. We had the appraiser set up to come out to the house, and an hour and a half before time, I got a call from our mortgager stating he wasn't coming because he was having trouble finding comps to get us to the value we needed to refi. It seems that of the very few houses in my area, the comps they were pulling were all forclosures, which dropped our value by $15,000!!! How can my home's value be based solely on this? Just doesn't make sense. August 01 2011 - Birmingham00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.