The Value of this Bailout

My Plan: If the U.S. Government is going to spend taxpayer money to buy homes from banks, (and that’s essentially what this bailout is) then it would be nice if they got a new appraisal for each those homes to ensure that I the taxpayer am not overpaying the banks for those homes.

  1. B. Hart

    The problem began when states started licensing appraisers. Then came the gifting programs no money down. The pressure from the lenders was unbearable. The lenders, salespeople and appraisers are to blame. You all know who you are a couple thousand dollars here a couple thousand dollars there. If you don’t make value you don’t get work. If you don’t get work you don’t eat. I quit appraising after 10 successful years of changing lenders like underwear (blacklisted). I was fed up with the 24 hour turn times. You can’t do a decent appraisal in 24 hours unless you are in a cookie cutter subdivision. The only way to do a fair appraisal is to NOT know the sales price or mortgage amount. If you want to fix the problem take a look at the way the relocation companies do it.