Avoiding deals with property value issues
If we could somehow collect and reinvest all of the resources wasted on potential loans that do not close due to unrealistic property value exercitations, we would be wealthy individuals. This is especially true in today’s environment of underwriter skepticism and the tightening of standards due to the recent mortgage meltdown. We are not talking about appraiser mistakes that do occur from time to time. We are talking about circumstances where the property value simply is not there.