New Rules for Appraisals
Posted 01-05-2009 at 03:25 PM by Eleanor Thorne
Even though we are not in a declining market in NC - we are being penalized anyway!
Effective January 1, most banks are requiring 2 appraisals with each purchase. This means closing cost fees just went up by $300 to $400 dollars... and the values we've enjoyed, are being CUT by the new appraisals!
Just one more hoop to jump through! Makes it even more important to work with a lender you trust for your refinance!
Effective January 1, most banks are requiring 2 appraisals with each purchase. This means closing cost fees just went up by $300 to $400 dollars... and the values we've enjoyed, are being CUT by the new appraisals!
Just one more hoop to jump through! Makes it even more important to work with a lender you trust for your refinance!
Total Comments 1
Comments
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Yikes! Does the same double appraisal requirement hold true for refis?
Where can I read more about this. Thanks for the heads-up!Posted 01-05-2009 at 04:03 PM by North_Raleigh_Guy
