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Updated over 11 years ago on . Most recent reply

Brad T.'s profile image
Brad T.'s profile image
Brad T.
  • Investor
  • from White Lake, Michigan
  • Member since Jul 9, 2013
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User Stats

165
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41
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Brad T.'s profile image
Brad T.'s profile image
Brad T.
  • Investor
  • from White Lake, Michigan
  • Member since Jul 9, 2013
Connect
Brad T.
  • Investor
  • White Lake, MI
41
Votes |
165
Posts
Private Lending & Conventional Mortgage Advice

Cash Out Refinance Way Too Low

Brad T.
  • Investor
  • White Lake, MI
Posted

Hi Everyone,
I am currently working on a cash out refinance, so that I can buy more rental houses. The appraisal came in at $90K when I was expecting at least $120K-$130K. After looking at the appraisal, out of 6 comps it had 2 foreclosures and a short sale that needed repairs. Is this legitimate? I have disputed the appraisal and have my real estate agent running comps. Please let me know your thoughts. The foreclosure inventory is way down in my area, so this doesn't make sense to me.

Thanks for the help and I love this site for this type of help!
Brad

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