black couple sues appraisal company for low appraisal on home

[Curried Goats]

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.

You getting legal advice from Trumps lawyers? Alex Jones's?

 

[MinTrut]

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

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



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.

Even the peak wouldn't account for a valuation THAT far off.

 

[Flash]

The filthy Democrats have been telling these Negroes for decades that they are victims so they all have a victim mentality. Everything is racist to them.

 

[Orangecat]

A second appraising was allowed.

So it's now systemic racism because their hut is worthless?

 

[bodecea]

The filthy Democrats have been telling these Negroes for decades that they are victims so they all have a victim mentality. Everything is racist to them.

This is the MAGA-RIGHT, folks.

 

[bodecea]

So it's now systemic racism because their hut is worthless?

Hut? This is the mainstream MAGA-RIGHT folks

 

[AMart]

This is the MAGA-RIGHT, folks.

Nope always Demoncrats like you.

 

[MinTrut]

This is the MAGA-RIGHT, folks.

^ This is an idiotic generalization, folks.

 

[Orangecat]

Hut? This is the mainstream MAGA-RIGHT folks

Hut, hut! These are the humorless simps from the comma-challenged BIDEN-CULT, folks.

 

[Mac1958]

This is the MAGA-RIGHT, folks.

And then they'll deny it.

They've been emboldened by the great orange con man.

 

[Woodznutz]

You getting legal advice from Trumps lawyers? Alex Jones's?

I know how the process works. Been there, done that.

 

[Woodznutz]

Even the peak wouldn't account for a valuation THAT far off.

Those values may seem extreme. The fair market value likely fell somewhere in between, making both appraisals within reasonable bounds.

 

[Curried Goats]

I know how the process works. Been there, done that.

Really? Because you sound like you don't know shit.

 

[Ray From Cleveland]

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.

Appraisal companies are individual entities and banks are their customers. Appraisers are not part of the bank. It's to no advantage to an appraisal company to give low estimates to black people. In fact if anything, it would favor their customer to give a higher appraisal so the borrower can borrow more money and take longer to pay it off which means a lot more interest money for the bank.

There is something missing in this story somewhere. Appraisal companies have to justify how they came up with their estimate. Normally it's done by comparing similar houses in the nearby area. I'd like to know what actual evidence these people have that their race had anything to do with it. They also claim that the appraisal was calculated by people in other black neighborhoods. I would love to see the paperwork they copied that says it was done that way.

 

[Ray From Cleveland]

Could be racial "bais" effecting the appraiser, could be random change from different appraisers having different opinions.

Which happens all the time. If you call three different appraisal companies, you will get three different quotes. Of course not hundreds of thousands of dollars in most cases, but without a doubt different prices.

 

[Ray From Cleveland]

How can anyone read that and think the issue is the couple that is suing? The appraiser compared the house to a black majority area cuz the owner was black vs the white area they lived in.

I never heard of an appraisal company using anything like that and would love to see in writing that's the way they prepared the appraisal.

 

[RoshawnMarkwees]

Doesn’t matter who allegedly lives in that house if it’s a black neighborhood. The crime is high high, the schools are bad and the fathers are missing. Absolute facts. Totally a democrat-cultivated thing.
I would not buy in a black neighborhood for at least another two generations.

 

[Ray From Cleveland]

As JoeB131 stated the difference in the appraised value was significant, so you guys should read the article before saying it is just Blacks being pissy…

And the only possible reason for that is race? What if it's a typo? You do know appraisers go inside the home, don't you? It could be a total wreck in there for all we know.

Again I ask, what advantage could there be for an appraisal company to give such a low quote?

 

[Harpy Eagle]

Yes, they are.

And homes are frequently valued differently by different appraisers.

The court damn well better toss such a stupid lawsuit out.

$300,000 different?

That is bullshit.

 

[Harpy Eagle]

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.

A difference of 275 grand is not wildly different? You are fucking on drugs?