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CHARLOTTE, N.C. — As soaring home prices set the stage for America’s great housing meltdown, a critical step in making sure those home sales were a fair deal the real estate appraisal was undermined from within.
CHARLOTTE, N.C. — As soaring home prices set the stage for America’s great housing meltdown, a critical step in making sure those home sales were a fair deal the real estate appraisal was undermined from within.
After the nation’s last major banking disaster, Congress set up a system to catch rogue appraisers. Their game: inflating home values under directions from equally unscrupulous real estate agents and mortgage brokers, whose commissions are determined by the size of the deals.
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Tags: Appraisal, problems, Worsened Meltdown
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