The rehabber wants to protest the appraisal because it’s too low and they can’t pull all of their money out.

Sort of a "hooray for me and to hell with you" movement - even with multiple protests and several votes of residents to defeat the new train.Not that it's especially relevant, but the stories of corruption on the build and management of the contract are legendary.  

:protest:

Also Tax assessed values can be protested then lowered.

Be sure to protest these, they are a little bit forgiving if you go with a good attitude. 

I can already here the people protesting over that one lol

If you buy the property for less than the tax appraised value you can typically protest it and get it down to purchase price the first year but plan on that going up closer to market value in the coming years. 

Banks want to protest their invested capital and if something goes wrong, and there is a lot of equity in the property, then the bank is more likely to foreclose to get their money and fees back, however, if there is very little equity in the property, the bank would rather the asset become performing again rather than take the property back and lose money so they may be more willing to work with you. 

I do realize that you valuation can only be raised 10% per year with the exemption which can usually be offset in year one by protesting the taxes and using your settlement statement 

With me if the borrower wanted to protest a foreclosure, I welcome it with open arms because I will have my ducks in a row and the money in the bank to get the foreclosure done.