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wade3333

Senior Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Georgia
Pam, thanks for posting this, very interesting and am planning to keep up with this to find out the outcome. Wade
 

Dale Smalley

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
What happend to the money?
Sounds like she got the loan and does not want to pay it back because.....it is the appraisers fault :roll:

This person is scamming you and the bank.

I bet she did a refi collected (and probally spent) the cash, and is now upsidedown on the loan. 8O
 
Joined
Jan 16, 2002
Whatever and whoever, it goes to the point of how convoluted this entire banking/appraisal industry really is. There are probably millions of people like this person out there, they just don't know it yet.
 

Austin

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
I did an appraisal last week and turned it in. Not one half hour after I turned it in, the phone rang. It was a woman and you never heard such a sob story. Her first husband and her purchased the house and he did her wrong leaving her a single mother with the children to raise. Her second husband had her in court and was trying to put them out on the street. I appraised the house at $95,000, and if I didn’t raise it to $105,000 she couldn’t get the loan and her and her kids would be on the streets. Besides that, the roofer was due in a few days to install a new roof and she didn’t have the money to pay him without the loan. All she needed was a loan based on 110% of appraised price. She was getting ready to put $10,000 into improvements anyway so what was the big deal? If I had fallen for it, she would probably be writing axing for help and calling me the snake that starved her kids.
 

jtrotta

Senior Member
Joined
Jan 16, 2002
Trans-Union; aren't they part of a "Credit Reporting Agency" :?: are they now involved in appraiasing :?

There's another one out in Texas - "Experian" are they playing the same game :?:

This sounds like it's getting outa hand out there, to many Chiefs and no Indians - this is gonna be somethin else when the s***t hits the fan folks and the way it's evolving is going to be super critical to everybody's well being.

First off, the credit reporting agency's for the most part are not verifying information; just did it with my daughter, they had her oweing tax money in a town she hasn't owned property in for over a year. Oh and don't go there I went over everything with her; the town assessor and the tax collector; the assessor was helpful, she said oh yeh she had brought that up and the data collector said for what I get paid I don't care what goes in there. After we put together enough viable information, it took less than 3 weeks to clear it up; but for the past year, these people screwed up her credit.
 
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