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The Misery of Home Appraisals

Everyone likely has a friend, colleague or family member with a horror story about having their home appraised in the wake of the housing meltdown, here's another particularly egregious one for your files. You may have read of our distaste for the way banks have generally conducted themselves during and in the wake of the housing meltdown, and the vagaries of the appraisal process are particularly galling. The crazy thing is that well-considered appraisals favor the banks as much as they do borrowers- an appraisal of a home's value is one of the two most important pieces of data involved in a mortgage...that's incentive enough to get it right, yes? Got an appraisal story of your own (good or bad)? Share in the Comments section. [Business Insider]