Baltimore Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Refi question - home assessment
I looked my house up on Maryland Department of Assessments and Taxation and it gave me an assessed value of about $30k less than its assessment 4 months ago, and less than what we paid. If we wanted to get our mortgage refinanced (APR would be over a point lower), does the bank go by this number? Or, is this assessment simply for taxes? We were hoping to get closer to our 20% than farther from it. I know in Michigan they use different appraisals for taxes and for mortgages, so I was wondering how it works here (and wishful thinking).
Re: Refi question - home assessment
ditto Mere. The mortgage company would have an appraiser do another appraisal of your home.
We tried to re-fi exactly a year after we bought our house and the appraiser said our home had lost 30k in value, and even though we put more than 20% down and WAY more than 30k we still couldn't refi.
We just refinanced last week and they actually didn't have to do an appraisal at all. Go to makinghomeaffordable.gov and check out the HASP/HARP programs. I swear I thought this was going to be too good to be true but we lowered our rate from 5.125 to 4.75 with no additional cash out, no closing costs, no appraisal (they did an HVE - home value estimator - but even that shows our value dropped over 50K since we bought it and we still got approved).
There are a few "catches" but there is a survey on the website asking if you qualify. I know for the program we did you had to have a Freddie Mac/Fannie Mae loan and I think you have to go through the people that did your last mortgage. And your last refi had to be prior to May 2009 (I think).
MyBio