Chase Home Financial
Low Appraisal Blocked Refinance Using Non-Comparable Homes

I mortgaged my home August with Chase for 100,000 at 7% interest, and a Chase appraisal of 125000, loan #1065570426. I made $30,000 in improvements. Dec I was in the process of refinancing loan#59912838 at a 4.75% rate. Chas'appraisal company gave me a low appraisal of $110000, and Chase denied the loan. When I spoke to the mtg rep. Explaining the appraisor used homes out of the area, less sq. Ftg, no improvements, less property, he said we can fight the company with a higher appraisal.

With 21 yrs of real estate knowledge I did my own honest appraisal of $139,000 and sent a copy to Chase & the appraisal company. The appraisal company came back with an amt. Close to mine, still using smaller and unimproved homes. However;I received the notification after the time limit expired and was never re-imbursed for expenses. Now when I make mtg pymnts at the Chase bank, the rep'S approach me to refinance.

Today I went into Chas's appraisal website and I see the exact same homes used again and my home appraised at 98000. Also, a home on their map only 2 parcel lots from mine with no improvements and interior neglect, appraised for 128,000. For 2 years no improvements have been made in Chase appraisal website. Did the stimulis package help Chase so they can deny mtg. Loans and give a deaf ear to complaints at their convenience, while they take over other banks? Now, when I make my mtg pymnts at Chase bank, the reps are asking me to apply for refinancing.

Company: Chase Home Financial
Country: USA

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