I was trying to refinance my home in Harlam and the broker sent Michael Litsky to appraise my house. Bottom line is, he appraised it so below market that I couldn't get the loan. I have filed a complaint with the New York State Attorney General who has launched an investigation. STAY AWAY FROM THIS APPRAISER if you ary trying to refinance your house!
Overview of the gory details:
1. Report contains factual errors, inconsistencies, and shows a lack of understanding and research of the local market.
2. I suspect the appraiser has a bias against this property, or perhaps of this area of the city, for reasons suspected but unknown. This resulted in a very low appraisal. This conclusion is based on his comments, behavior, and patterns betrayed in the report.
3. There were irregularities with the payment. Payment was urged in CASH, and no receipt was given.
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