Guideline Changes!!!

A lot of banks are now only lending up to 85% on your current value when you want to Cash out! Also starting on May 1, 2009 many banks are going to start to having everyone order their appraisals through a management company who then will assign an appraisal Company to do the report! This will be mostly done on Conventional loans.....but you never know maybe it will also be done on FHA loans in the near future. The reason for this move if this is the fist time you hear about the appraisal ordering change was to stop appraisers get pressured from Brokers, Account Executives from bring in the values higher. With the slow down in the real estate market I do not see that as much! but you still have pockets of areas that are seeing an improvement in values! Were still currently seeing interest rates in the high 4's so like always it is a very good time to refinance or to purchase! Any questions can be directed to me at refionce@gmail.com or a phone call at 800-208-4753 will also work! Take care!