Borrowers Urged To Get Independent Appraisal
Published Saturday, May 13, 2006 by Real Estate Pro | E-mail this post"No tenants are found, no rental payments are collected, no mortgage payments are made, the house goes into default -- turns out it's not worth anything -- and the borrower is left holding the bag and their credit is destroyed," says Rachel Dollar, a lawyer in Santa Rosa, Calif., who represents lenders in mortgage-fraud cases. But many borrowers simply don't want to be on the hook for more money than their homes are worth.
Tagged: Illinois
Borrowers Urged To Get Independent Appraisal