[gigi in fla]

Poppy:

I know square footage can be off somewhat, but 228 sq, ft.? I don't think so. Here is what happened: The appraisal was coming in too low, the letter from the broker to the State confirms that and she mentions the loan was "impossible" due to the "low" appraisal. Now, don't know if I mentioned this but she shared ooffice space with the appraiser. All three parties (broker, lender and appraiser) knew the home would not appraise for $200,000as indicated in her letter. So what did they do? They used the gross square footage (not what is under heat and air) to beef up the appraisal and then, unbelievably, they ignored a comp in my own subdivision because it sold for only $172,000. Then, they went over a mile a way and "found" a comp that sold for $205,000. If that is NOT fraud, I don't know what is. This explains the broker not answering the lawsuit; the appraiser calling me and threatening me and the lender doing the same.

As for the lender, they knew about the low appraisal per the broker's letter as their underwriter refused to accept the appraisal and they were reducing the value by $15,000. The loan went through when they switched to the ARM loan and at that point, most likely had the appraiser adjust the appraisal.

Thankfully, I don't see any judge or jury looking favorably on any of these parties especially now with sub-prime loans in the news almost daily. I am one of the folks who did NOT apply for this type of loan, I was victimized by the broker, lender and appraiser and hopefully, I can beat them up and get some money from them before they all are out of business.

Thanks again for your input. Would you like me to send my docs for you to look at?

Gigi