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can you go back on a computer generated appraisal?

I refinanced my house and they gave me a computer generated appraisal, after a year of paying this loan another house on my street came up for sale and it was a newer house with acerage and sold for alot less than my loan, so I did some research and found my house was only worth half of my morgage.
  • April 04 2009 - East Palestine
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Answers (1)

No, computer generated or not, the appraisal has to have a certificate or lic. of whom/whatever determined value, and what method or comps were used.

Your home losing value in 12 months however is a real possibility, and in that case, your neighbor just made out better than you by buying when the market was lower.
  • April 07 2009
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