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appraisal money back?
we went thru a mortgage broker to obtain financing for a home loan and after 3 months of working with them they could not produce financing from a bank and now we have a useless appraisal. how do i go about getting this money back?
2 Answers
- Arbor MortgageLv 41 decade agoFavorite Answer
The appraisal money was paid to the appraiser to perform your home appraisal. It's not money that the mortgage broker keeps, so it's not for him to refund. Since the appraiser performed the job as ordered, he likely isn't going to refund. Unless the appraisal wasn't completed or there was blatant fraud or misconduct, there really is no way to get this money back.
You may want to check with additional lenders to see if they would be willing to work with you with that appraisal, or at least give you an additional discount since you're already put money into it. Many will.
Source(s): Mortgage lender - golferwhoworksLv 71 decade ago
The value may not have come in where it was expected to be. In other words short in value. many of the values have dropped across the country and if ordered through the HVCC system there is never going to be a refund. Appraisers are independent of every lender and Congress mandated the system.
You are entitled to a copy of the appraisal since you did pay for it