Question by Priscilla B: My house appraised for far less than what I owe!?
I am currently refinancing and the appraisal has come back as more than half of what I owe on my property. I ‘m so shocked and confused. I knew it was going to be low but I didn’t expect it to be more than a 50% drop! What should I do? should I cancel the refi and do some upgrading to the house or continue?
Best answer:
Answer by Go with the flow
Upgrading? I would have thought of paying down the mortgage instead.
Funny how different minds can work.
Sounds like you should continue as you are if paying down a mortgage is not something you would consider doing.
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