New Rule Requires Additional Appraisals Before Mortgages Are Transferred

July 12, 2008/in Foreclosure & Loan Mod Blog /by Scott Lanin

Another good idea gone awry? The NY times is reporting that NY Attorney General Cuomo has made an arrangement that will require additional appraisals before mortgages are transferred to investors. Intended to protect homeowners, this could end up costing borrowers more. Someone will be paying for the additional appraisals. Here is the article

I have blogged on the consequences of good intentions before. See my 6/12/08 post.

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New Rule Requires Additional Appraisals Before Mortgages Are Transferred

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