Another reason to avoid 100% home financing
No bailouts if you overpaid
By Jack Guttentag, Sunday, March 11, 2007."After being in my house for a year, I learned that the market value is considerably less than the appraised value. I was obviously deceived by the builder and the appraiser. Who do I talk to about that?
My mortgage was for the full appraised value. I want to stay in my house, but I don't want to pay for a mortgage that is for more than the house is worth. Is there any way I can get the lender to reduce my note to the real value of the house? more...
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