This term is located with my home loan information found on my mortgage company's website, but the amount is twice the value of my loan.
2006-08-22 06:14:46 · 5 answers · asked by honeedew22 2 in Business & Finance ➔ Renting & Real Estate
Every mortgage document is a little different.
But the original appraised value typically refers to the value of the property at the time of the initial mortgage being agreed upon.
This may be important later in the documents in relationship to insurance requirements for the improvements (buildings)to the property (land).
When you refinance the mortgage company will also refer to the original appraised value to determine if the value at the time of your new application has increase (improved your equity) or decreased.
Good Luck
2006-08-22 06:53:35 · answer #1 · answered by peterpfann 3 · 0⤊ 0⤋
i,m and appraiser for over 9 years, and that i've got considered a ton of crappy comments, that are only way obtainable, there grow to be a remark that stated that lenders are in possibility and that's the full actuality, as mush as much as assets vendors think of there house is often properly worth greater, we could continually have supportable information that helps any fee we arise with, and in case you prefer to truly blame each and each guy or woman blame the government, reason the differences in 2011 the HVCC regulations, only lenders %. the appraiser, besides the shown fact that now maximum appraisers could artwork for AMC (appraisal administration employer's) , which lowers the quantity the appraiser get in line with record, so which you get appraiser who do shitty comments. reason now there fee are shrink in 0.5. I completely understand assets vendors lawsuits yet in the previous you blame the appraiser you're able to understand the possibility the appraiser takes, and many lenders now are blanket suing appraiser for the housing downfall to recovers what ever they are able to, So i hate to assert it yet appraisers now are very careful on there fee, via fact of each and all of the differences interior the marketplace,
2016-11-05 09:34:07 · answer #2 · answered by basinger 4 · 0⤊ 0⤋
Has the process taken a while? Sometimes appraised values expire after 3-6 months, and a recertification is required.
2006-08-22 08:03:48 · answer #3 · answered by Jacque w 3 · 0⤊ 0⤋
An appraisal was done at the time you financed. The term relates to the appraised value at that time.
2006-08-22 08:41:14 · answer #4 · answered by statewidecanton 1 · 0⤊ 0⤋
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2006-08-22 06:26:22 · answer #5 · answered by Anonymous · 0⤊ 1⤋