black couple sues appraisal company for low appraisal on home

[JoeB131]

Years ago I got a police scanner back in the first cordless phone days. Looking at the frequency codes, I found that I could tap into the base units of peoples phones. This is around the time when blacks started taking over the neighborhood.

I was amazed at the hatred by blacks against whites. I'd hear two black people talking about how much they hated us. One of the callers said they were invited to a party by a white coworker. She never attended and stated she had to put on a show at work like she really liked the white coworker.

Don't think for a minute the way you are treated by blacks means they actually like you.

Ray has me on ignore because I point stuff like this out... BUT HOLY SHIT MAN, EVERY TIME YOU DESCRIBE YOUR LIFE, YOU SOUND AWFUL!!!

That you spend your time listening in on police calls was sad enough, but now you listen in on other people's phone calls, which is probably illegal.

 

[JoeB131]

My wife used to be a realtor....nobody wants to buy a home that black people lived in.

Especially since the Democrats created BLM.

Course my nephew's black...and he brought his black girl friend home and she couldn't eat because she can't stand White People. The thought of being in a home with a White person just turned her stomach.

If I want to get anything for my house when I sell it I can't advertise that my wife is black and actually lived in the house.

People are just racists.

And then I would ask what her life experiences were that she had these kinds of attitudes.

At least you are honest enough to admit that the appraiser and loan company were racist.

 

[Couchpotato]

Nope. Loan Depot is well and screwed. Get this in front of a jury, they won't need a lawyer, they'll need a priest.



"We had no idea our appraiser we've used for years is a racist!" Yeah, that ain't gonna fly.

They should have realized something was wrong when they read the appraisal.

THEY USE AN APPRAISAL MANAGEMENT COMPANY YOU FUCKING IDIOT. LoanDepot doenst have ANY interaction with ANY of the appraisers. ZERO. NADA. NONE.

 

[JoeB131]

THEY USE AN APPRAISAL MANAGEMENT COMPANY YOU FUCKING IDIOT. LoanDepot doenst have ANY interaction with ANY of the appraisers. ZERO. NADA. NONE.

And they acceptted that racist's product without question.

This is why they are liable.

When they got that report, they should have looked at a map, and realized that "Hey, he didn't compare the house to other houses in the neighborhood, he compared them to houses in OTHER neighborhoods to do the Comp.

For instance, when I got my appraisal for my new house, they did DIRECT comparisons to units in the same condo complex.

Just for the record, I think we need to crucify these bankers JUST FOR BEING BANKERS.

 

[Couchpotato]

And they acceptted that racist's product without question.

What about them not even knowing this idiots name arent you grasping? They also wouldnt have had any clue as to the race of the applicant. So how could they possibly figure out there was a racial motivation to the appraisal even if it's stipulated that there was one.

This is why they are liable.

When they got that report, they should have looked at a map, and realized that "Hey, he didn't compare the house to other houses in the neighborhood, he compared them to houses in OTHER neighborhoods to do the Comp.

That's not their job.

That's a map of Baltimore. Show me where all the white vs black neighborhoods are. Hell show me where the "neighborhoods" are.

For instance, when I got my appraisal for my new house, they did DIRECT comparisons to units in the same condo complex.

Just for the record, I think we need to crucify these bankers JUST FOR BEING BANKERS.

 

[Superbadbrutha]

It's not a slum, my properties are upkept to city code. We have no choice. Every time a landlord rents to a new tenant in my suburb, it has to undergo a strict safety and maintenance inspection by the city: the apartment, the basement, the garage, the hallways, all grounds where tenants have access to.

Just because they are up kept to city code doesn't mean they still aren't shit.

Yes, it's true the blacks destroyed the suburb as they do anyplace they move, but that doesn't make my property a slum because the blacks are ruining it.

So why are you still there? You hate black folks, you claim they destroy your property. Why are you still there?

All my tenants are employed. I don't take section 8 applicants to keep people like you out.

You mean to keep black folks out, tell you what JB Stoner it is just as many whites on Section 8 as there are black.

I know you don't give a damn. It's like if you went to buy a new car and they quoted you $27,000 and I went out to a different dealership and they offered me the same car for $25,000. It has nothing to do with race. They just have different prices.

Keep bringing that weak ass argument, anyone with a piece of brains could see what this was all about. Usually if you use to different banks they might be different by a few thousand dollars not 300K.

You have yet to show a motive for the first company giving such a low estimate. No, a company would not chance a lawsuit because they didn't like blacks. We will probably never know the end of this matter since it's such a non-story. But this couple has no grounds to claim race had anything to do with it just because a completely different appraisal company had a different quote.

That's a lie, we see racial discrimination in real estate everyday and this is no different.

 

[JoeB131]

What about them not even knowing this idiots name arent you grasping? They also wouldnt have had any clue as to the race of the applicant. So how could they possibly figure out there was a racial motivation to the appraisal even if it's stipulated that there was one.

Uh, seriously? They are about to loan these people hundreds of thousands of dollars, you think they haven't figured out who they were dealing with before they sent an appraiser over to their house?

That's not their job.

It's not their job to determine who they are about to loan hundreds of thousands of dollars to and get an accurate property value on the house they are using on collateral?

That's a map of Baltimore. Show me where all the white vs black neighborhoods are. Hell show me where the "neighborhoods" are.

Sure.. that's an easy one. It took me all of five seconds to find this map. If I had hundreds of thousands of dollars at stake, I might actually make, you know, an effort.

 

[Couchpotato]

Uh, seriously? They are about to loan these people hundreds of thousands of dollars, you think they haven't figured out who they were dealing with before they sent an appraiser over to their house?

They cant. That's the whole point of the AMC and AIR.

https://singlefamily.fanniemae.com/media/4711/display

It's not their job to determine who they are about to loan hundreds of thousands of dollars to and get an accurate property value on the house they are using on collateral?

The applicant's race would be immaterial to whether they granted the loan or not so why would they get that information? If I were a lender I would make it a point to not know a person's race, ethnicity, sex, sexual preference any of that shit for fear of being labeled a racist,. sexist, transphobe/whatever and to avoid any hint that that information might have factored into the decision to make or not make a loan to a person.

Sure.. that's an easy one. It took me all of five seconds to find this map. If I had hundreds of thousands of dollars at stake, I might actually make, you know, an effort.

View attachment 688322

Those arent neighborhoods. And the only way this map is relevant is if LoanDepot knew the race of the applicant.

 

[JoeB131]

The applicant's race would be immaterial to whether they granted the loan or not so why would they get that information? If I were a lender I would make it a point to not know a person's race, ethnicity, sex, sexual preference any of that shit for fear of being labeled a racist,. sexist, transphobe/whatever and to avoid any hint that that information might have factored into the decision to make or not make a loan to a person.

Actually, that's exactly why you find out that.

Seriously, dude, have you ever actually gotten a loan?

I just got a loan for my Condo. They pretty much turned my life upside down looking for stuff. They asked about my vacation property in Wisconsin that I co-own with five other people, they got years of tax returns, checked every credit card I held and even an account I opened to buy new furniture. And this was with a bank where I had ALREADY been doing business for 20 years.

 

[Couchpotato]

Actually, that's exactly why you find out that.

Seriously, dude, have you ever actually gotten a loan?

I just got a loan for my Condo. They pretty much turned my life upside down looking for stuff. They asked about my vacation property in Wisconsin that I co-own with five other people, they got years of tax returns, checked every credit card I held and even an account I opened to buy new furniture. And this was with a bank where I had ALREADY been doing business for 20 years.

Yes. Likely more than you. I've owned 6 houses and built 3 others over the years. Of course they checked your credit dummy, that is relevant info. The color of your skin ISNT. Allegedly, you think it shouldnt either but you sure as hell dont act like it.

 

[JoeB131]

Yes. Likely more than you. I've owned 6 houses and built 3 others over the years. Of course they checked your credit dummy, that is relevant info. The color of your skin ISNT. Allegedly, you think it shouldnt either but you sure as hell dont act like it.

The banking industry has a LONG history of racism, so, um, yeah, they should make sure they aren't doing it.

This is a case where they got caught.

 

[mudwhistle]

And then I would ask what her life experiences were that she had these kinds of attitudes.

At least you are honest enough to admit that the appraiser and loan company were racist.

It's a fact in the South. Whites tend to not want to buy a home that had a black family living in it.
I learned this several years ago when I was going thru Real Estate school.
To be honest....some people like a home that looks unlived in....so you just remove all evidence that someone was living in the home.
You have to disclose everything to the buyer when you enter into a contract with them.
Course you're not supposed to discriminate for any reason except age.

But the only reason that girl got sick from the sight of me is because I'm mostly white. She was raised to hate White People, plain and simple.
Many blacks are raised that way.
Obama felt that way, even though his mother was White and he lived with his rich White Grandparents most of his childhood.

 

[mudwhistle]

I've lived with and around "people of color" my whole life. That's not my experience nor anything like the experience they have relayed to me.

They're not going to tell you...unless they get in larger groups.
I've been living with them long enough to know because they admitted it to me.
If you lived in an area in a city like Philly or Baltimore that is 99% black you'll find out real quick.
Many of the would jump at the opportunity to beat the hell out of you.
One of the things I learned that helped me face reality about racism is the fact that most blacks hate whites.

 

[mudwhistle]

The banking industry has a LONG history of racism, so, um, yeah, they should make sure they aren't doing it.

This is a case where they got caught.

Black people are developing a long history of racism.
DC's mayor is illustrating what many blacks actually feel.
She says that the non-vaxxers aren't welcome in her public schools.
She's using vaccines as an excuse....but what she really means is White Trump Supporters.

 

[Couchpotato]

They're not going to tell you...unless they get in larger groups.
I've been living with them long enough to know because they admitted it to me.
If you lived in an area in a city like Philly or Baltimore that is 99% black you'll find out real quick.
Many of the would jump at the opportunity to beat the hell out of you.
One of the things I learned that helped me face reality about racism is the fact that most blacks hate whites.

Fuck off man. My godfather is a black man. I've had Black men and women as superiors, subordinates and peers. I've lived, ate, bathed, mourned, and rejoiced with them. One of my best friends in the world is a black man. Are there racist black people? Of course, just like there are racist (insert color of skin here) people. Maybe if you didnt come off as such an asshole people of all races would treat you better.

 

[mudwhistle]

Fuck off man. My godfather is a black man. I've had Black men and women as superiors, subordinates and peers. I've lived, ate, bathed, mourned, and rejoiced with them. One of my best friends in the world is a black man. Are there racist black people? Of course, just like there are racist (insert color of skin here) people. Maybe if you didnt come off as such an asshole people of all races would treat you better.

Fuck you too.
One of these days you're going to have to face the truth.
Just about every Black in Hollywood harbors hatred for whites because of the way they were treated growing up.
And today CRT is being taught whether you want it or not.
CRT is going to teach not only black kids to hate whites...but teach whites to feel they deserve to be hated.

I used to think the way you do....but unfortunately I had to eventually face the truth.

This is what our public school system is doing to our kids:

 

[Rigby5]

Yes, they are.

And homes are frequently valued differently by different appraisers.

The court damn well better toss such a stupid lawsuit out.

I disagree.
Most home appraisals are very similar and close, since they should be using about the same criteria, comparables, etc.
{...
Nathan Connolly and Shani Mott are suing an appraiser and a mortgage lender after their home was estimated to be worth $472,000. After the couple removed any indications that Black people lived there, a second appraiser valued the home at $750,000.
...}
That is almost off by as much as 45%, which is way too high of a difference.
The only excuse is that the sellers should have removed as much personal stuff as possible even before the first appraisal.
No one should have been able to tell it was owned by Blacks.

 

[Rigby5]

If they finally got a fair appraisal why sue?

Because it cost them time and money, and the mortgage companies still do not have to use the 2nd higher appraisal.
So basically this is a case of red-lining, where Blacks are being kept out of white neighborhoods by being denied mortgages.

 

[Rigby5]

There is absolutely no evidence that race had anything to do the differing appraisals. Different appraisers will always have different opinions.

Not true.
Appraisals that differ that much would be useless.
And they do NOT usually differ much at all.
There is nothing much up to opinion, but a science of investment, appearance, style, location, facilities, condition, etc.
The ONLY subjective part is something like race.

 

[Rigby5]

And it isn't like they are wildly different. Not like one will say it's worth 100k and another say it's worth 247k.

But blacks don't care. They don't get what they want and they scream racism.

Unless they want to sell the house I'd want my home value to be as low as possible. If my house was valued at 49 dollars I'd be happy because my taxes would be lower.

Wrong.
They needed a high appraisal in order to refinance at the best rates.
These are appraisals for the bank, not for the property tax.