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Consumer Advice

(2,491 posts)

7. The assessed value has nothing to do with current market.

Fri Oct 26, 2018, 10:05 PM

Oct 2018

The maximum CLTV for HELOCS is generally 80%.

Commission on HELOCs for the LO is almost nothing.

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Highlight:

Why would a big bank like Wells Fargo [View all] no_hypocrisy Oct 2018 OP

when was the loan originated? lapfog_1 Oct 2018 #1

2008 just before "The Crash" no_hypocrisy Oct 2018 #5

That says it all . PoindexterOglethorpe Oct 2018 #8

yup... hence the question... and that's the explanation. lapfog_1 Oct 2018 #9

Did she once pee on a bed in Moscow? Only explanation I can think of. dameatball Oct 2018 #2

Appraised value and assessed value can be very different unblock Oct 2018 #3

Did someone involved get a commission based on the amount of the loan? n/t PoliticAverse Oct 2018 #4

Don't know. Only have the actual document. no_hypocrisy Oct 2018 #6

The assessed value has nothing to do with current market. Socal31 Oct 2018 #7