Then you should know that many lending professionals believe World Savings
undervalues homes by 10% or more...
What does that mean for you? Higher interest rates & less cash out.
- A lower appraised value means some people were provided 2nd Mortgages when a larger 1st Mortgage based on a higher appraised value would have been sufficient
- These unnecessary 2nd Mortgages are at higher interest rates and therefore cost you more money every single month
- Lower appraised values mean you may not have been able to get all the cash out you needed--or still need--to consolidate debt or for any other reason
- Lower appraised values can mean individuals in Option Arm, Pick-A-Pay or Neg-Am programs may have been given higher-than-necessary 'Start Rates'--often over 2%
- Lower appraised values result in a higher 'Loan to Value'. This is an important Risk Factor
Bankruptcy Chapter 7
lenders use in determining interest rates. Higher 'Loan to Values' are considered riskier and are therefore given higher interest rates
Has World Savings Bank Appraised Your Home For Significantly Less Than You Expected?
