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Bank Of America Mortgages Bank of America Bank of America/ LandSafe Conspire to Fix Low Appraisal Despite other Appraisal Evidence Internet
LandSafe, Bank of America's wholly owned appraisal service, under-appraised a condominium unit that I intend to buy and incredibly would not consider the most recent documented sale of an identical unit that sold for $33,000 higher than the Landsafe appraisal. They pretend to allow a reconsideration using "recent sales from the subject immediate competitive neighborhood", "similarity of lot size/value; similarity in construction age / quality and living area size, but declared that the new information could not have been known by their original appraiser, so the original appraisal is valid. How convenient is that for the Bank of America?
2 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
USA
*CALL ME ISHMAEL, JUST YESTERDAY NOURIEL ROUBINI PREDICTED.....
#3Consumer Comment
Sat, May 22, 2010
that the stock market would fall 20%.
Karl
Highlands Ranch,Colorado,
USA
Call me Ishmael, If you.....
#3Consumer Comment
Fri, May 21, 2010
'Google' this- ROUBINI GLOBAL ECONOMICS- COMING SOON: 5 MILLION MORE FORECLOSURES, and read that article on the web, you might be able to understand why the banks are "under-appraising" properties.