If appraisal is set too high, homeown...

If appraisal is set too high, homeowner will find home difficul...

There are 3 comments on the Akron Beacon Journal story from Jul 22, 2006, titled If appraisal is set too high, homeowner will find home difficul.... In it, Akron Beacon Journal reports that:

When mortgage counselor Fred Vaughn and his wife decided a few years ago to tap their home equity to pay off bills, he learned firsthand about one of the dirty secrets of today's lending environment.

Join the discussion below, or Read more at Akron Beacon Journal.

BJBB

Titusville, FL

#1 Jul 24, 2006
Anyone desparate enough (or dumb enough) to go for this type of scheme deserves to lose their home. They wouldn't need to "consolidate bills" if they lived within their means in the first place. People who find themselves in this situation are the ones who have already used credit unwisely. Once over their heads, they put their homes on the line to try to cover it.

It's not the lender's fault. The borrower should research what his home is worth before taking a loan, realizing the risk involved and the fact that he may be overextending.
Tobi

London, UK

#2 Mar 26, 2014
This is the first time I had ever applied for a loan. I couldn't have asked for anything more from the staff that answered any of my questions to the application process. Once this had all been completed the money was transferred quickly into my account. I will definitely be recommending 911PDAY .COM ( http://goo.gl/44kQUQ ) too my friends and family.
Homeless Wino Pete

Akron, OH

#3 Mar 27, 2014
Come on and appraise my fridge box, beeyotches.

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