Foreclosure Defense And Appraisal Fraud - David H. Charlip

From Charlip Law Group L.C. -  Prospective home buyers who apply for mortgage loans to finance all or part of a home purchase are typically restricted to borrowing up to the value of the property or less. As a result, the value of the property must be appraised before the mortgage loan can be finalized. Unfortunately, some unscrupulous sellers or appraisers may use this process to persuade buyers to purchase homes that are worth much less than the appraised value, and less than the amount the buyer intends to borrow from the bank. This overvaluation of the property can result in the buyer owing more than the home is worth, especially if they made a small down payment at the time of purchase, ultimately leading to negative equity.

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Charlip Law Group L.C.

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