BRRRR refi need help

[Kevin McCann]

Hello all

I am having trouble with the appraisal on the refi out of the hard money loan. I purchased a sfr 3/2 for $69900 and put $14000 in repairs and added a legal bedroom in the basement to make it a 4 bed 2 bath using a hard money lender 100% purchase and rehab and a loan amount of $92000 total. Had it appraised before purchasing at $129900 in September!! Now I am refinancing out two months later and  with the new bank I am refinancing with also says it's worth 130k but the appraiser that was hired appraised it at 76000!!!! The lender says it's a crap appraisal but by federal law they have to stay with it. I could walk to another bank but this bank I have a good relationship with and he is will to fight the appraisal.  What do I do!!