Regional Area

Thanks for your honest opinion Vicky!

TO answer your questions How are we financing?-
30 fixed 5.8% NV gladly will take us at 6.5% and put us into a second mortage around 10% for 100% financing --NOT!!

we are not doing an FHA loan and the appraiser is an FHA appraiser and his experation date is 10/08 I checked his file with HUD and the ASA. He is not ASA but HUD only. This is all suspect as to the Opnion of the appraisal,plus he doesn't even live in the Northern VA area ,he just has an PO Box checked this also.

We are appealing the appraisal ,for a second opinion ,plus we have 3 other lending sources that are approved by our relocation company, and none of them will be NVR Mortgage. I want to avoid a situation of playing harball with NV at all possible and to resolve the issue professionaly,but I will not hesitate to loose cash on the front end to hold up the proccess to all the other sales they have made for inflated prices on options alone by forcing buyers into using their mortgage company on the back end.

All of their properties are appraising to satisfy the sales price regardless of True Market Value that is the scary thing.
All it takes is a tip from an educated buyer to the FBI with acurate data to justifiy these appraisal gaps and that should keep everyone honest. Again I'm not saying that the New Construction house is only worth 470k,but challenging the 555k at falling markets along with the appraiser.

THanks again for you input - Sun Aug 31 2008, 08:21