Embrace Home Loans,INC. Told me to lock in my rate I need to pay upfront for the apprasial, then undervalued my home by 30 thousand after many improvements. Total joke. Internet
My story is the same as the others, they told me I was totally approved, my credit was good, and all I was doing was going from a 30 year to a 15 and lowering my rate, that was my intent anyway. I put new windows and doors in my home costing 28,000. Plus a new patio another 5,000. My house apprased 2 years ago for 157,000 and after these two big upgrades they appased it at 130,000. What a joke!
1 Updates & Rebuttals
Steve
USAThey don't make any money on your appraisal
#2Consumer Comment
Wed, February 15, 2012
That goes to the appraiser, not to the mortgage broker. And even if it *did*, the broker makes thousands by getting you a loan, whereas $350 is nothing. Trust me, it was not their fault; it would not be in their best interest.