Legislation should be added to the sales contract/mortgage to require buyers to either accept or decline the $275 Appraisal Review to help protect themselves & possibly reduce their city taxes.
If the $275 Appraisal Review were rolled into a 15 year mortgage that would translate to a consumer expense of an additional $1.53 per month. A 30 year mortgage would cost the consumer a whopping .76 per month!!!!
Why is this important?
I am a recent victim of Texas residential appraisal, mortgage and lending fraud but I have a solution for you and your family that wasn't available for me. If a new home buyer gets a simple and CHEAP “Appraisal Review” for their property inside the two years after they purchase the home it will save them from the financial damage that happened to me. If the $275 Appraisal Review is rolled into a 15 year mortgage that would translate to a consumer expense of an additional $1.53 per month. Situation is solved!!! A 30 year mortgage would cost the consumer a whopping .76 per month!!!!
This policy would also provide the appraisal industry and professionals with more income due to increased consumer demand for their services.
