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appraisalLow Appraisals

The real estate crisis in America has caused Financial Institutions to become very conservative with regard to approving mortgages for prospective homeowners. Bankers have put pressure on the appraisers they use to be very conservative in the valuation of homes. Restrictive loan underwriting requirements are causing many homes to be valued at 15 to 20% less than the actual market value. This has resulted in prospective home purchasers backing out of real estate deals due to a lower than anticipated appraisals.

Real Estate Appraisal Problems

During the days of the real estate boom, financial institutions accepted appraisers’ inflated home values so the prospective purchasers could obtain larger mortgages. Since the time the real estate bubble burst, new home purchasers have found that the appraisers working for financial institutions are now under valuing homes. In April of 2011, the medium national home price in the United States was $163,700. This was a 5% reduction from the median value of a single family home since April, 2010.

lawForeclosure Lawyers

Our law office can help you save your home. We fight foreclosure proceedings!!! We help our clients obtain mortgage modifications. We litigate defective mortgages, predatory lending, bad faith, defective foreclosure lawsuits and real estate issues. We are familiar with the State and Federal laws the banks must comply with in foreclosure proceedings. We attend court conferences for our clients and we try to motivate the financial institutions to enter into mortgage modification programs with our clients. Sometimes we advise our clients to file either a Chapter 7 or Chapter 13 bankruptcy, which immediately stops foreclosures from moving forward. We also can assist our clients in re-establishing their credit after filing for bankruptcy. Contact us for a free consultation. Thank you for visiting our foreclosure blog.

Foreclosure Defense in Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick and Bellmore, New York

We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

This is attorney advertising. This website is designed for general information purposes only. The information presented on this website shall not be construed to be legal advice. If you have a legal problem you should consult with an attorney.

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