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Home refinance procedure
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Addicted to MacNN
Join Date: Jul 2001
Location: I don't know anymore!
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Jun 16, 2013, 11:31 AM
My daughter is trying to refinance her house. Is it a normal procedure for the financial institution to take pictures of the rooms in the house, occupied? Sounds shady to me. They sold her house six years, ago, empty, and I see no reason for anyone to photograph the contents.
Why is there always money for war, but none for education?
Mac Elite
Join Date: Aug 2006
Location: Denver, CO
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Jun 16, 2013, 03:07 PM
I used to work in the mortgage area. It's completely normal for an appraisal for a refi. It should be a 3rd party appraisal company taking the pictures and doing the evaluation- not the bank.
Join Date: Jan 2001
Location: Polwaristan
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Jun 16, 2013, 08:05 PM
I think appraisals are normal for original or refi. HARP 2 is the only one I know if that doesn't require an appraisal, although I imagine lenders might impose one if they wanted it.
Posting Junkie
Join Date: Aug 2003
Location: midwest
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Jun 17, 2013, 07:26 AM
Just refi'd, it's normal.
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