Asked by Ojl, Kirkland, WA • Sun Nov 4, 2007
An appraisal of my home right now might value it lower than my purchase price. I'm not looking to sell yet but just refinance my HELOC into a home equity loan. The most important thing for me currently is that the appraised value be enough to get my loan approved and I've got enough equity now to give me a cushion should the value come out lower. Should I be worried though about any future negative consequences of the appraised value being lower than my purchase price, as this will likely be in searchable official records somewhere eventually if my loan gets approved?
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