Is it legal to Banks, to use appraisals 40% lower in size then subject, and basically ruin a deal? Are we still in a declining market?

Asked by Andrew Muller, Weston, FL Tue Mar 29, 2011

I understand that banks try to "lowball" the value of the property so they dont have to lend much, but they do just the opposite, when they highly appraise a short sale property. Both ways they are ruin the deals, and they dont lend and make money.( they already have it from the goverment bailouts.)
Very frustrated.

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BG, Home Buyer, Phoenix, AZ
Tue Mar 29, 2011
I wouldn't be surprise if a borrower comes to the same bank asking for a loan for the same house, I bet you they wouldn't use the same appraised value.
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