black couple sues appraisal company for low appraisal on home

[August West]

And it isn't like they are wildly different. Not like one will say it's worth 100k and another say it's worth 247k.

But blacks don't care. They don't get what they want and they scream racism.

Unless they want to sell the house I'd want my home value to be as low as possible. If my house was valued at 49 dollars I'd be happy because my taxes would be lower.

They all look alike and think alike....to a racist POS.

 

[Woodznutz]

What was the 'fair market value' according to the taxing authority?

 

[JoeB131]

If they finally got a fair appraisal why sue?

Because if white people get an appraisal of 750K and black people get an appraisal of 420K, then it's not a fair appraisal.

 

[Woodznutz]

Because if white people get an appraisal of 750K and black people get an appraisal of 420K, then it's not a fair appraisal.

What was the damage if they finally got a fair appraisal and a successful refinance?

 

[Curried Goats]

What was the damage if they finally got a fair appraisal?

They didn't you dipshit. The white couple pretending to be them did. Can't you fuckers read?

 

[JoeB131]

What was the damage if they finally got a fair appraisal and a successful refinance?

Probably minimal.

But that's why they have PUNATIVE damages, to punish the bad behavior beyond economic losses.

 

[Woodznutz]

They didn't you dipshit. The white couple pretending to be them did. Can't you fuckers read?

The house was the subject of the appraisal, not the people.

 

[Woodznutz]

Probably minimal.

But that's why they have PUNATIVE damages, to punish the bad behavior beyond economic losses.

When all is said and done there is likely no case.

 

[Curried Goats]

The house was the subject of the appraisal, not the people.

And the white people who got the fair appraisal don't own the house. Stop getting stuck on stupid.

 

[JoeB131]

Was this case actually brought and adjudicated?

Oh, I doubt it will ever get to a courtroom.

When you have behavior THIS blatant, the lawyers will settle out of court.

The house was the subject of the appraisal, not the people.

Yet, when the appraiser thought the house was owned by black people, he compared property values to those in another neighborhood where black people lived, and when he thought it was owned by white people, it compared it to properties in the neighborhood.

Now, some points here, because I am always a fair guy.

When were the two appraisals done? Because if the first one was done last year and the second one done when the property market peaked in June, that might account for a discrepency. If they were done within weeks of each other, no excuse at all.

 

[Woodznutz]

And the white people who got the fair appraisal don't own the house. Stop getting stuck on stupid.

There's a bit more to this than that.

 

[Curried Goats]

There's a bit more to this than that.

Is there more to you than this because all I see is the stupid.

 

[JoeB131]

There's a bit more to this than that.

What, then?

Because on the surface, it looks like exactly what it looks like, a black couple getting a low-ball appraisal because they were black.

Now it might be that one of the appraisers is grossly incompetent.... but that seems unlikely.

 

[Woodznutz]

What, then?

Because on the surface, it looks like exactly what it looks like, a black couple getting a low-ball appraisal because they were black.

Now it might be that one of the appraisers is grossly incompetent.... but that seems unlikely.

"Comparable home values" is a valid appraisal method. "Whitewashing" could be considered fraud in this case. Also, a 'black owned' home would be viewed as belonging to a black neighborhood, not a white neighborhood. The low appraisal was a way to deny the refinance and protect the lender from possibly repossessing a property if a default occurred.

 

[Curried Goats]

"Comparable home values" is a valid appraisal method. "Whitewashing" could be considered fraud in this case. Also, a 'black owned' home would be viewed as belonging to a black neighborhood, not a white neighborhood. The low appraisal was a way to deny the refinance and protect the lender from possibly repossessing a property if a default occurred.

Considered fraud by who? Fucking morons?

 

[MinTrut]

It’s you.

Yeah - and this actually looks like a good lawsuit.

A 300k difference?

 

[MinTrut]

Sounds like they have a pretty good case.


Do you actually read the articles before you present them? I will show you the key passage.

Connolly and Mott later re-applied with another lender, and “whitewashed” their home, according to the lawsuit. This included removing photos of their Black family from the home, and having a White colleague present the property to the appraiser. The suit claims this valuation came back at $750,000, more than a quarter of a million dollars higher than 20/20 Valuations’ appraisal of $472,000.

Yup.

The appraisers would be wise to settle...

 

[Woodznutz]

As judge and jury of this case we also need to know why this couple sought to refinance their home. Was it to secure a lower interest rate, or because of other financial needs, or perhaps a financial crisis? This would have been disclosed during the application process, and prior to the appraisal, and would certainly have affected the whole process.

 

[AMart]

Anybody have the address? Remember that black lady in Indy got herself a bogus 2nd appraisal. I found her house and hood and no way was that 2nd appraisal accurate. The comps they were using were ridiculous.

 

[MinTrut]

Given that it's in Murdermore I'm surprised it was that high.

Homeland is a neighborhood in the northern part of Baltimore, Maryland, United States. It is bounded roughly by Melrose Avenue on the north, Bellona Avenue on the east, Homeland Avenue on the south, and Charles Street on the west.

Sounds like a refinance scam to me.

Nice part of the city actually.