Residential real estate appraisal insight,real estate commentary,unlocking the sleazy world of the real estate transactions
Friday, July 6, 2007
WHAT ACTION today
As the wheels keep spinning on the sub prime meltdown i have more and more calls coming from appraisals done back in 04-05, many of them seeking the same value which isn't likely. The loan officers calling have transformed into a new animal seeing only the kill. They cut right to the chase, "Can you get this value, If you can, I'll send you the order". This repeats over and over all day. The sad thing is most of these people owe 50,000 + more than the home is worth and those are the lucky ones I see. Some people are 150,000 off the value that they want. They are so polite when I let them know I require a fee of 350,000,000 for comitting a federal crime or only 350.00 for a real appraisal. Its an easy choice.
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