Don't be left holding the bag! With
the Court ordered re-assessment, many homeowners are going
to be in SHOCK when they receive their value
from the County. While Allegheny County is re-assessing the
550,000 some odd properties, the comparable sales they are
using are older sales. This means, that although many of our
local neighborhoods have begun to drop in value just
recently, the value the County will be putting on your
property may very well not reflect this drop.
As a property owner, you have the right to
appeal current value according to recent Court Rulings
if the value of your property has decreased from the time of
assessment. Additionally, certain types of properties have
inaccurate data which the taxing bodies use in their favor
to raise your assessment.
DON'T LET THIS HAPPEN TO YOU!
For more information on how to be
pro-active and to defend yourself, you can call us for a
free consultation at
412-831-1500
On May 1, 2009 the HVCC was initiated
throughout the Country on every mortgage transaction that
involves an appraisal that is sold to Fannie Mae and Freddie
Mac. This involves all conventional loans which prior to the
present meltdown was approximately 70% of all lending. With
the banking system crippled, conventional loans seized up
and nearly came to a halt. Presently, the conventional
mortgage market is still trying to get back on its feet
albeit very slowly and cautiously. Then there is the HVCC.
The HVCC came about due to pressure put on an appraisal
management company called eAppraiseIT by a large mortgage
lender Washington Mutual in the State of New York. The
Attorney General of New York created the HVCC. To stay out
of litigation (even though not directly involved), the
appellant in the case (The State of New York) arranged to
have Fannie Mae (FNMA) sign an agreement that all loans
placed through FNMA & Freddie Mac would have to adhere to
this new HVCC.
“We knew this was causing extreme hardship to the industry,
but we didn’t expect to get thousands of horror stories from
would-be homebuyers whose dreams have been dashed by this
well-intended, but misguided policy. Every day thousands of
people are getting the rug yanked out from under them in
their quest to become homeowners because of HVCC. You only
need to go to our petition website to read the stories for
yourself,” said Kearns.
