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MAXIE19 · 07-02-2009, 12:37 AM

Has anyone noticed that there seems to be an upward tick in home values using the online estimators. I am in the MD/DC area. The upward tick actually has me concerned as I believe that EMC/Chase would be more willing to modify my loan with negative equity. My loan amount is currently 1.3 mil on the first with EMC and 45K on the second with Citimortgage. This upward tick is probably what the lenders have been banking on as reflected by the slow pace in which they have been processing the pending loan mod apps.

At last check on 6/8/09, the following values were posted when I performed the online check:

Zillow.com $ 1,155,000.00
B/A - Cyberhomes 1,134,230.00
Chase 1,206,000.00
County assessed value 1,206,840.00

As of today, the following values were posted:

Eppraisal 1,490,555.00 (value range = low 1,266,972.00 - high 1,714,139.00)
zillow.com 1,164,500.00 (value range = low 954,890.00 - high 1,432,335.00)
cyberhomes 1,239,371.00
Chase 1,215,000.00

I also received my property tax for 2009 and my taxes went down from about 15k to 12k, this translates into a savings of about 3k for the year and monthly savings of about $250.00, thereby increasing my surplus. I am concerned that the additional surplus may adversely impact my chances for getting a loan mod to the extent that the recommended surplus range is $200-300. I was previously showing a surplus of about $138.

I am trying so hard not to be so pessimistic about this situation, however, each passing day increases my concerns and fears.

07-02-2009, 12:37 AM	#10 (permalink)
MAXIE19 Senior Member Join Date: May 2009 Posts: 265 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Emc loan modification application Has anyone noticed that there seems to be an upward tick in home values using the online estimators. I am in the MD/DC area. The upward tick actually has me concerned as I believe that EMC/Chase would be more willing to modify my loan with negative equity. My loan amount is currently 1.3 mil on the first with EMC and 45K on the second with Citimortgage. This upward tick is probably what the lenders have been banking on as reflected by the slow pace in which they have been processing the pending loan mod apps. At last check on 6/8/09, the following values were posted when I performed the online check: Zillow.com $ 1,155,000.00 B/A - Cyberhomes 1,134,230.00 Chase 1,206,000.00 County assessed value 1,206,840.00 As of today, the following values were posted: Eppraisal 1,490,555.00 (value range = low 1,266,972.00 - high 1,714,139.00) zillow.com 1,164,500.00 (value range = low 954,890.00 - high 1,432,335.00) cyberhomes 1,239,371.00 Chase 1,215,000.00 I also received my property tax for 2009 and my taxes went down from about 15k to 12k, this translates into a savings of about 3k for the year and monthly savings of about $250.00, thereby increasing my surplus. I am concerned that the additional surplus may adversely impact my chances for getting a loan mod to the extent that the recommended surplus range is $200-300. I was previously showing a surplus of about $138. I am trying so hard not to be so pessimistic about this situation, however, each passing day increases my concerns and fears.