I typically would hesitate to write a bad review but this situation negatively affected me in a non-superficial way as it causes me issues with my bank, and now I have to spend money to correct it.
I am in the middle of getting my PMI removed from my mortgage and I reached out to my bank to begin that process. They apparently hired Ryan Robbins to do my evaluation. I needed a roughly $10K appreciation over the last 2.5 years for my primary home, as well as the $30K I have paid down to qualify. That represents approximately 1% per year. We are experiencing a booming housing market and it is inconceivable that my value is not 2% higher than it was when I purchased the home.
Here is where it gets CRAZY. I purchased my home for $445K 2.5 years ago. My tax assessment is $450K. My appraisal when I purchased the home was $450K. The Redfin estimate today is $550K (given the appreciation)
What did they tell the bank my home was worth?
$307K!
Woah! Where did that come from?? When I asked I am told there are no good comps in the area. Wrong! My neighbor (literally the definition of a comp) sold thier house last month for $415,000 and it is not only smaller but much less desirable as it has no view, among other things. (Picture attached)
So rather than just tell the bank the data was inconclusive, my bank now thinks I'm $70,000 under water in my home that I've had for 2.5 years in a booming market, that I put a chunk down on!
And to add insult to injury, I paid for this!!! So now I have gone backwards and I have to spend $800 on a different review.
I've attached a picture of my home and a home that they had listed as MORE valuable than mine. Mine has the 3 car garage.
What???
I gave them a chance to explain and they doubled down. I've bought and sold a lot of real estate and this is just unbelievable to me.
Do not trust.
100% dishonest people.
Proof is in the pictures. read more