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Nationstar Mortgage / erroneous appraisals

1 United States Review updated:

I took out an arm loan with nationstar. It is due to adjust july, 2009. I called nationstar mortgage to refinance and they sent out an appraiser. The appraiser told me that they would not reappraise my home because they had reviewed the appraisal that nationstar had used two year previous and had found that not only did it contain information that was not true about my own home, such as it had a fireplace but the comparables that they had used to set the value of my home for the loan were not comparable to my home. My home had been overvalued by 40, 000 dollars.

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Comments

  • Gr
      22nd of Apr, 2009
    0 Votes

    You should be okay with the 'rate change date' in July 2009 because the Libor is going down, not up. Keep on them to make sure that it ajusts in your favor.

    This Lender is quick to raise and slow to reduce.

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