Low Appraisal For Refi Cash Out

[Bob Barilla]

Hi, 

Second chance at refi with hope of getting $50k out of property.

Appraisal comes in low and nowhere near lendingtree and realtor price estimate.

Problem is (in Baltimore) that neighborhood consists of single family row homes but mine was converted to 2 family 6 years ago.

So, there are no comps nearby so they use comps that aren't in as good of neighborhood as mine.

Best offer I got was with cash out $22k and also adding $10k in closing costs.

No thanks.

What to do?  Sell it and take the $100k?  Don't want to cause its a cash cow.

I just want some cash for next investment.

Thanks for any advice.

Loan balance $192K

Estimates $335

Appraisal$275

Orig Price $280 (in 2010)