Regulatory changes attempt to protect consumers by prohibiting creditors from misrepresenting the value of property: An analysis by Arkansas residential appraiser, Ferstl Valuation Services.
Refinancing mortgages has become increasingly popular to take advantage of record-low mortgage rates, but higher-priced and higher-risk loans face greater scrutiny from government regulators to curtail abuses by lenders and real estate speculators. As a skilled and certified Arkansas residential appraiser, Ferstl Valuation Services, helps to prevent these kinds of unethical practices by providing heightened scrutiny of higher-interest loans. These higher-priced loans do not include reverse mortgages, home equity lines of credit, temporary or bridge loans, and construction financing for new homes.
The recent regulatory changes attempt to protect consumers by prohibiting creditors from misrepresenting the values of property, banning prepayment penalties during the first four years, prohibiting lenders from relying on unverified assets or incomes, and requiring that creditors make good-faith efforts to determine borrowers’ abilities to repay loans.
When uncertainties or disputes arise involving real estate, they often result in legal proceedings and the need for a property expert. Ferstl Valuation Services is available to provide expert witness testimony and litigation support for many types of real estate matters throughout the State of Arkansas. Ferstl Valuation Services is owned by licensed attorneys with decades of combined legal experience and impeccable training and credentials. We are pleased to assist clients whether they are real estate professionals, buyers, sellers, attorneys, estate planning professionals or others in need of real estate expertise within a legal context.
Real estate expert testimony can be key to protecting the interests of clients in a wide variety of contexts. Commercial, industrial, residential or agricultural property owners may be called upon to justify property valuations in any number of scenarios. These include disputes involving condemnation, divorce and estate settlements, property titles, foreclosures, environmental contamination, and property tax appeals. With the skilled and experienced property experts at Ferstl Valuation Services working on their behalf, clients and their attorneys can build strong cases and enjoy successful outcomes.
In all residential real estate appraisal reports from certified, licensed real estate appraisers like Ferstl Valuation Services, there are some important elements you’ll want to make sure are included. Here’s a helpful list to keep on hand in order to verify the residential real estate appraisal report that you receive will meet the needs of all those involved in your case.
Scope of Work and Intended Use
At the top of a report’s list for important information is, of course, the client’s identifying information and the property address. The scope of work, as well as the purpose and type of the appraisal are next.