Appraisal Mistakes: What Do You Do?

When you review your appraisal, either for your purchase or a refinance, you will notice on the front of the report the lender's name as "Prepared For... " and not yours. What's this? Didn't you pay for an appraisal? Yes, you probably did, but the appraisal belongs to the lender, not you. You are entitled to a copy of the report but the lender uses it during the loan approval process.

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