Home Loans and Support

What is the next step after the appraisal?

Discussion in 'Countrywide Home Loans - Tell Us Your Countrywide ' started by Magiccards, Dec 21, 2009.

  1. Magiccards

    Magiccards LoanSafe Member

    Please help answer these questions:
    Our negotiator, Meagon McPherson called last week. She said that she will order an appraisal for our house. My question is where we will go from here? What is the next thing we should expect? How long does it take to get the result? I checked on Zillow and my house's value has gone down to 30K less than our mortgage. How accurate is Zillow's estimation?
  2. AzGryffindor

    AzGryffindor LoanSafe Member

    Zillow is pretty bad as of late due to the market constantly changing.

    The best way to determine what your home would sell for (it's current worth) is to look at the recent sales in your area. You can do this through Zillow.

    For example: They have my house showing as worth $124,500 but when I look at the homes recently sold in my subdivision, I'm seeing that most are selling around $60k.

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