Unfortunately there is little that can be done about appraisals. I have noticed appraisals coming in much more conservatively and sometimes under the reproduction cost of properties in this market. With the sales of bank owned homes on the rise, appraisals are being effected. I have been trying to find ways to overcome low appraisals and have even contested a few without any luck. Banks are appraising for true market value these days. If you are refinancing to lower your payment, perhaps you can inquire if you qualify for a loan modification. Best of luck to you. - Mon May 18 2009, 17:39