user8933749's Advice

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user8933749 wrote:

Refinancing with a National mortgage company - local appraisal Q...

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Thanks all.  We're going to pony up the $$$.  It'll be bittersweet seeing how much home value has eroded -- but still getting a nice new rate overall...
November 01 2012
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Refinancing with a National mortgage company - local appraisal Q...
We're very interested in refinancing our home we bought in 2010.  Our LTV is likely very close to 95% (sigh... even though we put down 10%).  Some interest rates we've seen online (Zillow/Bankrate.com) are much better than local lenders could offer.  Our worry is that we'll pay for an appraisal that doesn't understand the local neighborhood.  Is this a valid concern?  There's been many sales within a block of our house -- but most have had features (4th bedroom, extra 1/2 bath) that we don't have.  We'd hate to waste our money for some appraiser that goes outside our neighborhood to find an exact comparable...  Any thoughts?
November 01 2012
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