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re: Help needed, I recently got turned down on a refinance loan for my home
Posted on 4/21/12 at 9:35 am to 318Tiger Fan
Posted on 4/21/12 at 9:35 am to 318Tiger Fan
It means the appraiser thinks his comps were really all that comparable and there's a lot more guesswork involved in his estimate than usual. Some banks don't want such loans although if you have 50% equity already I don't see the problem either.
1
Posted on 4/21/12 at 6:58 pm to foshizzle
So basically I didnt get the loan because i dont live in a "cookie cutter house" in a multi home subdivision that has had multiple sale within the last year? That sounds crazy to me, esp since I have 50% equity in my home. I would think that would be a good deal for the bank. If I default on my loan, they could make double their money.
Do you think I will have this problem with other banks as well? Am I screwed, I know im confused as hell
Do you think I will have this problem with other banks as well? Am I screwed, I know im confused as hell
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