Feb
26

Appraisers – Reliable Valuations of Mortgaged Properties Are Key to Foreclosure Relief Plan

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– RISMedia.com

The nation’s four largest organizations of professional real estate appraisers-the Appraisal Institute, American Society of Appraisers, American Society of Farm Managers and Rural Appraisers, and National Association of Independent Fee Appraisers-delivered the second of two letters to Treasury Secretary Timothy Geithner urging the Administration to protect homeowners and taxpayers by requiring that the market values of homes under President’s Obama’s Homeowners Stability Program be determined by professional appraisers who are state certified and licensed.

Current bank agencies guidelines require new appraisals in restructuring loans when a material change in market conditions exists. In the letter, the groups affirm that reliable valuation and appraisal products are available from professional appraisers in every community in the country. There are more than 100,000 certified or licensed real estate appraisers in the United States. Because of new technologies and methodologies, these professionals are prepared to deliver a wide variety of necessary services quickly, including summary and streamlined appraisals that are cost effective and highly reliable.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://rismedia.com/2009-02-24/appraisers-reliable-valuations-of-mortgaged-properties-are-key-to-foreclosure-relief-plan/

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