Posted on: 08th Nov, 2011 06:56 am
We refinanced earlier in 2011 - March or April - and had the appraisal done, etc. Now considering refinancing again through the same lender. They are requiring another appraisal. Nothing has changed on the house and the house is assessed and appraised for more than twice the mortgage value. It seems like paying 500 bucks for another appraisal is a waste of money. Any advice for trying to get out of this appraisal or am I just stuck with it?
Hello,
Unfortunately, the appraisals are only good for 90 days. Once that time has expired, a new appraisal must be completed. From a lenders point of view, many things can happen in a few months. The home may have been destroyed by fire, wind, vandalism, etc...I would ask your lender to credit you for the appraisal cost. If not, go to another lender who may be more accommodating. Good luck
Unfortunately, the appraisals are only good for 90 days. Once that time has expired, a new appraisal must be completed. From a lenders point of view, many things can happen in a few months. The home may have been destroyed by fire, wind, vandalism, etc...I would ask your lender to credit you for the appraisal cost. If not, go to another lender who may be more accommodating. Good luck