I believe there is a recent FHA guideline for refinancing underwater properties with borrowers who are current and qualify, it primarily addresses the property value with a government guarantee.

They encourage appraisers to work areas that are unfamiliar to the appraiser then they seem to encourage low ball appraisals (or high ball appraisals at other times) instead of objective information.Frankly what I did when this happened to me was to threaten to report the Appraiser to the National body that governs appraisal issues (I forget the name).

I'm pretty sure not.I believe that it's a federal crime for banks to try to influence appraisals, and I know that in some states (but I don't believe there's a federal law), it's illegal for mortgage brokers, lenders and real estate agents to try to influence appraisers, and I assume it's illegal for appraisers to allow themselves to be influenced.

Joe - it depends on the governing documents of your association.

You will want to make sure the loan was originated in consideration of SAFE Act for both the state where the property is located and the federal guidelines.

There are both federal and state laws involved.

The people you work with need to be local, RE is governed by local custom as well as state and federal law.

Can you help me understand how the situation I described is not governed by the information below, but rather is governed by some exception?

If you acquire properties under an LLC make sure to keep up your paperwork with the government.

I really enjoyed my time working with government agencies. the corporate world is much different however.If there are people in the NoVa area I would love to get together and help/learn.