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Close Topic OptionsHow The New Home Appraisal Rules Can Hurt You
How Home Appraisal Rules Hurt You - Politics, Business, Civil, History - Posted: 24th Jan, 2010 - 10:07am
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Post Date: 24th Jan, 2010 - 6:10am / Post ID: #
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How The New Home Appraisal Rules Can Hurt You
How The New Home Appraisal Rules Can Hurt You
Real Estate Related News
Beginning February 15,2010, mortgage brokers can no longer order their own appraisals for residential real estate loans backed by the Federal Housing Authority. Instead, the appraisal selection process will be in the hands of appraisal management companies.Â
The idea behind the creation of the new law is to remove bias from the process. Previously, loan officers [...]
Source: Greater Hinsdale, IL Real Estate and News
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This is just yet one in a long list of rules that are not thought through as to how they will be implemented or perverted to ones benefit. It is just another reason we our government is in the situation it is in now...nobody thought about the longterm ramifications of what they were signing or legislating.
I just love it when Senators and Congressional representatives sign bills they havent read.
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TOPIC: How The New Home Appraisal Rules Can Hurt You