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Answers (5)
- Prudent Fundings, "Prudent FHA ShortPay"
- Contributions:1
Although you may not qualify for HARP. The Principle Reduction Program-FHA short pay refi, from the making home affordable act is a new program to allow underwater homeowners to participate in the FHA short pay prinicple reduction.
- sunnyview
- Contributions:25139
If you are looking for a refi and you think that your LTV might be low due to drops in your area, you might see if you would be eligible for a HARP refi. There is eligibility info for HARP here. If you don't think you can get the appraisal you need to drop the rate, that might be another way to go.
- kidztxi
- Contributions:2
you have given me a number of things to think about, thanks! did some digging and found a couple duplex's in same town for sale, one nowhere comp'd to mine @135,000.00 and another fairly similar (smaller) 220,000.00, hummmmm.would it be out of line to call the appraiser strait away? should I go through the bank?
OH forgot to mention the house was purchased in 10/2004 for 232,000.00 and until recently held its value...past 3 yrs. noticed tax appraisal going into the low teens.
OH forgot to mention the house was purchased in 10/2004 for 232,000.00 and until recently held its value...past 3 yrs. noticed tax appraisal going into the low teens.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4702
Maybe is was too high in 2010, or too low now, hard to say. Here is a chart of values for your area...
http://www.zillow.com/local-info/OH-Twinsburg-home-value/r_7510/#{scid=mor-site-topnavlocalsub}
You can always talk to another appraisal and get a second opinion, here is a link to find an appraiser in your area...
https://www.asc.gov/National-Registry/FindAnAppraiser.aspx
http://www.zillow.com/local-info/OH-Twinsburg-home-value/r_7510/#{scid=mor-site-topnavlocalsub}
You can always talk to another appraisal and get a second opinion, here is a link to find an appraiser in your area...
https://www.asc.gov/National-Registry/FindAnAppraiser.aspx
- Cheryl Talbot Real Estate, "Virginia Beach Homes"
- Contributions:674
The market has taken a hit. Ask them where they came up with that figure. Is it tied to distressed sales or what? I would ask your lender or the individual assisting you to see what has happened there. Such drops are not normal but it would all depend on whats going on in and around you. You can always ask for a copy and I do believe you have the right to talk with the appraiser to see how they came up with the value. Start there to see how this has happened. There could be a mistake made on the part of the appraiser. Thank you for your question.
how much have home appraisals dropped in the past year on refinancing homes?
My tax appraisal this year is 211,000.00 which is about 80% of FMV. I am trying to refi with Fifth third bank Twinsburg.
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