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The Appraisal Isn’t MY Fault…Who Takes the Hit in New York?

http://www.optionsrealty.com Posted by StarkStark 207 days ago

In order to prevent lending money to home buyers that begin home-ownership in a declining market, Fannie Mae and Freddie Mac have designated Nassau and Suffolk counties as “declining markets.” In a nutshell, this designation allows for room in the appraisal to lower the value in order to protect the lender from an overinflated loan instrument.

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