took out a 70k HELOC 1.5 years ago, adding my 1st i owe 205,000. My intrest rate on my 1st is "ARM' 10% and 2nd 12%. These are killing my payments. I went to try to refinance my credit is 670, but they are telling me my property is valued at 185. if i would come up with 20k they tell me i could save a huge chunk of money. My home was actually appraised at 220 when i took out the HELOC 1.5 years ago. They used a computer to figure it out not a actual appraiser. After doing some reasearch homes sold for 184,000 at that time. I live in a townhome communtiy. i have both of these loans with countywide financial and they will not help me at all, after i paid for an appraisal, came in at 184k. Again i talked to an appriser and he told me it should of never appraised at 220. countywide pushed this HELOC to paydown debts so it would make refiancing my first easy.
2007-01-04 05:38:08 · 3 answers · asked by jen t 1 in Politics & Government ➔ Law & Ethics
Try the sites below. On the 1st site, chang the state in which you live. The last site is an affordable way to get access to a TOP Law Firm in your State, this is very affordable. Watch the online movie presentation.
If you need more help, I know some people at Countrywide. I might be able to assist you.
Sincerely,
JD
2007-01-04 07:45:17 · answer #1 · answered by citronge69 4 · 0⤊ 0⤋
I've been a mortgage broker for over 12 years and have never heard of anyone using a computer program for an appraisal.
so are you saying that Countrywide provided itself with the appraisal? what metropolitan area do you reside in?
2007-01-04 13:49:21 · answer #2 · answered by lv_consultant 7 · 0⤊ 0⤋
Just quit paying and move out to the park.
2007-01-04 13:45:01 · answer #3 · answered by Anonymous · 0⤊ 0⤋