4 ways to overcome appraisal roadblocks

Public records, valuation sometimes miss vital details

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Appraisals have stymied many borrowers’ attempts to purchase or refinance in recent years. A major problem due to the decline in home prices since the market peaked in 2006 is that properties haven’t appraised high enough for the lender to grant the mortgage amount the borrower requested.

Refinancers who bought during the peak years have had difficulty refinancing if their mortgage amount exceeded the appraised value of the property. The Home Affordable Refinance Program (HARP) was designed to help people in this situation.