Judge Rules Appraiser/Lender Owe no duty of care

[Fernando]

My bad Bayou, but I wanted to get your attention. I come in peace.

I was thinking about your situation and I believe you may want to take an alternate route since this has been going on for what, 3 years? What is the saying about doing something over and over and expecting different results? Sure, you may get the appraiser's license revolked but I really don't think you'll get a new septic and well. Especially since you failed once before in court.

It's a hybrid plan first posed by Mejappz in post #274, George Hatch's line of thinking in that you should just forget paying lawyers and just make the necessary repairs, and Terry Rohrer's post #754 where he states to just "walk away" as, he knows the inevitable being the skilled, experienced, appraiser he is.

I believe you should look into a loan modification. I did a lot of appraisals back during the Great Recession to help homeowners keep their properties.

You would strategically default on your loan....3 months or so, then sporadically make payments here and there to keep you in the game. You appear to be pretty good at research given everything you found out about FHA loans, Etc.

FHA National Servicing Center (NSC): The NSC offers loss mitigation programs and informational resources to assist FHA-insured homeowners facing financial hardship. (this is you, given you have to pay for an entire septic and well system, a necessity for living in the dwelling). They can provide guidance on available options, such as FHA-HAMP, Standalone Loan Modification, FHA-HAMP Combination Loan Modification and Partial Claim, and Pre-Foreclosure Sale (PFS)

Look into it.....

I like you thinking outside the box.
Bayou knows her situation whether best to loan modify or give back to lender. If get good terms from lender, that would be best solution for all.

 

[Fernando]

It's dumb comments like these which detract from the discussion. USPAP is for appraisers and users

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When USPAP came out, I knew USPAP was disadvantage for appraisers. It wasn't written clear. Public doesn't have to take hours of class every two years to understand it. It can be used against us in how it allowed users on nonusers (what does that mean to the public) to use it.

 

[Huds_Harm]

Forumites here still don't know how agents and home inspectors are involved in the lawsuit. Appraisers are wary of everyone and need all the facts. When we feel something is not right with the facts, rest of the claims are suspect.

The seller's agent listed it as septic and well, attached a seller's disclosure stating it was septic and well and an OSSFF stating it was septic and well. What else does the appraiser need to correctly identify the water source on the appraisal?

 

[Fernando]

The seller's agent listed it as septic and well, attached a seller's disclosure stating it was septic and well and an OSSFF stating it was septic and well. What else does the appraiser need to correctly identify the water source on the appraisal?

You had more information about the septic and well than the appraiser. If it was a material fact in your purpose and reviewing the appraisal, why didn't you mention it to the lender?

 

[Huds_Harm]

You had more information about the septic and well than the appraiser. If it was a material fact in your purpose and reviewing the appraisal, why didn't you mention it to the lender?

Expert Deflectors.

First you say, I'm not an intended user of the appraisal, then you say I should have proofed it for competence.

The one thing the appraiser had that I didn't was knowledge of FHA minimum property requirements.

 

[Fernando]

Expert Deflectors.

First you say, I'm not an intended user of the appraisal, then you say I should have proofed it for competence.

The one thing the appraiser had that I didn't was knowledge of FHA minimum property requirements.

You were never the intended user but now you are using the appraisal for your lawsuit.
If appraisal report wasn't that important to you prior to closing, why you bringing it up afterwards.
Lawyers like to find blame even when the facts are not there. They hope to convince the jury in their made up narrative.

 

[Huds_Harm]

You were never the intended user but now you are using the appraisal for your lawsuit.
If appraisal report wasn't that important to you prior to closing, why you bringing it up afterwards.
Lawyers like to find blame even when the facts are not there. They hope to convince the jury in their made up narrative.

Because MY loan was contingent upon the APPRAISAL determining the home qualified. Until you can show me where it says a buyer is required to determine that I will refer to what my contract states.

 

[Fernando]

Because MY loan was contingent upon the APPRAISAL determining the home qualified. Until you can show me where it says a buyer is required to determine that I will refer to what my contract states.

So your due diligence was reliance on the appraisal being approved by the lender? Where did you get that from?

 

[George Hatch]

Because MY loan was contingent upon the APPRAISAL determining the home qualified. Until you can show me where it says a buyer is required to determine that I will refer to what my contract states.

It was the lender's loan, for which you were an applicant. Their money, their loan, their risks, their decision. Not your's.

 

[Fernando]

It was the lender's loan, for which you were an applicant. Their money, their loan, their risks, their decision.


It was the lender's loan, for which you were an applicant. Their money, their loan, their risks, their decision.

That's what we been trying to tell her. It's lender's problem if they take back loan when she defaults.