Asked by Jj, Los Angeles, CA • Tue Jun 3, 2008
My house was recently appraised for refinancing since but the appraiser compared it with the properties that were foreclosed - so the property value went down significantly now I cannot get a high LTV to get money out to use it to buy another property. Is that right that the appraiser should compare it with properties that are foreclosed in our area? The lot size is not even the same with our house.
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