ABN AMRO Mortgage Group sucks. I bought my home about a year and a half ago. I only put 5% down, so I had to have PMI insurance.
I recently finished my basement and was sure the improvements would bring the appraisal to 80% LTV. I called ABN AMRO and was told by on of their employees I would need an appraisal. I got the appraisal done for $250.00 and sent it to ABN. They returned a letter saying they would have to order the appraisal for an additional cost of $300.00.
I spoke to a loan officer and she advised me to get the appraisal made in ABN name and I needed the house to appraise for $5000.00. I did that and sent it back in, two weeks later I got a letter stating the LTV ratio had to be 75%. This total BULLSHIT! I talked to several realtors, lenders, builders, appraisers etc, they had never heard of this practice.
Stay away from this company! They lie, cheat and screw you out of money!
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