HECM APPRAISALS

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How to manage appraisal expectations on reverse mortgages

Feb 21, 2019By

Any time a homebuyer seeks an appraisal as part of obtaining a mortgage, there’s a good chance expectations won’t align with the appraiser’s verdict on value. For older homeowners seeking a reverse mortgage, this can be especially challenging, as a lower-than-expected value could preclude the borrower from securing the loan. How can HECM LOs best prepare borrowers ahead of an appraisal to avoid disappointment? Experts weigh in.

3d rendering of a row of luxury townhouses along a street

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