We are first time investors, trying to make a living. From what I researed so far, we are juked into a bad ripoff from this one company that branched in different entity names. At first, the home in the southwest area, Florida was appraised at $353,000 in April before it was built and we would buy it for only $287,500.
Now the house is appraised around the $270,000s only a guess by United Mortgage loan consultant if that is even true, which meant that the home went down $83,000 after it was built. I have checked with two different loan officers and the comparible homes sold in the areas are being sold between 200's to 260's. One loan officer could not even find a home sold within 5 mile radius in the last year. Homes in that areas have never value at $353,000 in the past year because the value has never gone over the 260's. This means that houses are being appraised high to lure people into buying with fake equity in the beginning. Now, we are stuck with two houses. We are going into forclosure. Lets get in touch asap please.
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