Category Archives: Appraisals

How Do You Properly Evaluate Home Values?

The current system required by Fannie Mae and Freddie Mac does not seem to be working too well. Why not? It tends to low-ball home values, leading to fewer home sales and higher consumer fees. So there’s a revamp of … Continue reading

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New Regulations To Promote More Accurate Lending Risk

Credit rating agencies were spectacularly wrong in the past few years when they tried to assess the worth of mortgage-backed securities. When thousands of home owners can no longer afford to send in their monthly mortgage payments, all the fancy … Continue reading

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House Value Appraisals Are More Conservative These Days

People preparing to sell their homes can often expect a nasty shock when they get the appraisal. You can’t get a mortgage loan unless the bank sees security in owning a home worth substantially more than the mortgage. A high … Continue reading

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Obama’s HARP For Distressed Borrowers

This program is aimed at borrowers who have not missed a mortgage payment. It is different from earlier government programs aimed at those who were late on their payments. Those plans offered mortgage modification so people could have lower monthly … Continue reading

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U.S. Home Prices Fall 3%

May 22 (Bloomberg) — U.S. house prices sank 3.1 percent in the first quarter from a year earlier, according to a government report, as buyers waited for values to stop falling. The number of mortgage originations is expected to drop … Continue reading

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Is There A Good Side To Dropping Home Prices?

My Shabbats used to be ruined by sitting at someone’s table and listening to them moan about the high price of Pico/Robertson real estate and how they had to sell off their first-born child to make their downpayment. Just imagine … Continue reading

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Home Appraisals

The Chicago Tribune reports on a battle in Washington over home appraisal: In March, Fannie Mae, Freddie Mac, their federal regulator and New York Atty. Gen. Andrew M. Cuomo reached an unusual agreement. With it, Cuomo stopped investigating the home … Continue reading

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It’s Getting Tougher To Borrow Money

The Boston Globe reports that even borrowers with great credit scores are having a tough time getting the loans they want. Lenders are increasingly cautious and conservative. They want higher down payments and higher credit scores. An applicant has to … Continue reading

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Home Appraisals

Jim Buchta writes: In Congress, several mortgage reform and anti-predatory lending bills have been introduced that would ban improper influence on appraisers and coercion, even on independent mortgage brokers who were not governed by existing federal rules. It would also … Continue reading

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Eroding home appraisals latest blow to buyers, sellers

Jim Buchta writes: Rosita Fields hit a dead end when she tried to refinance the mortgage on her south Minneapolis house: The appraisal came in at less than what she owed. Aaron Smith was equally stymied when he tried to … Continue reading

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