"We started a DIY remodel and so far have turned a 4 bedroom/2.5 bath into a one bedroom/1 bath. Have been told that the house can not be appraised now. Bought house for $432K and have a 1st and 2nd for the about amount. Interest only loans (1st 342K at 5.5% expires next year, 2nd $85K equity loan at about 4% now, variable rate). Comparable houses (that is when we have a functioning house) in the neighborhood are selling for $475K - $800K; typical is between $525-$575. To give you idea of land value..."    View Post

"Loan Scenario View All Post A Scenario Loan State: Colorado Loan County: Jefferson Loan Type: Refinance (Rate and Term) Loan Amount: $550,000 Property Value: --- LTV: --- FICO: 730 DTI: --- Occupancy Type: Owner-Occupied Property Type: Single Family Residence We started a DIY remodel and so far have turned a 4 bedroom/2.5 bath into a one bedroom/1 bath. Have been told that the house can not be appraised now. Bought house for $432K and have a 1st and 2nd for the about amount. Interest only loans ..."    View Post