Thursday, May 19, 2011

Why Appraisal Management Companies Are Not Good for the Consumer

I just got this e-mail today, (please see below) the original fee for an appraisal was $345. We called to ask what the deal was and they went on to say that gas prices have doubled. Can you believe that? Also, the town is not at the tip of the peninsula in MA, it is half way down the cape. Just another way for big businesses to stick it to the little guy.

I told this bank that we were all set and and were going somewhere else so they finally changed there tune and are going to do the appraisal for the original fee. If you have want a honest mortgage company to represent you please visit:
or please call 508-982-3056

West Yarmouth is located at the tip of the Peninsula in MA. City has a total land area of 9.1 miles with 6.7 miles of it land and 2.4 miles water. Limited sales in this area. Appraiser may need to travel to neighboring towns to obtain comparable sales. The closest appraiser we could locate is 34 miles from the city. All appraisers we have spoken to have a 10-14 day turn time and are located 50+ miles away. The appraiser we have located can complete within 6-8 business days. We are requesting a fee increase to $600 in order to complete this appraisal request. Please advise at your earliest convenience. This order will be placed on hold pending your response. Feel free to contact us at 888-406-5166 should you have any questions or concerns. Thank you

Mass Mortgage Loans

Mass Mortgage Loans