A good current appraisal valuation and current environmental report can help protect your loans and assets, against lender pressure, foreclosure losses, or bank "loan calls". Reappraise your assets in writing during this difficult recession. We encourage you to consider new Appraisals for your assets.
A customer of Chase Bank with good credit, good collateral and a deposit account of $200,000 went to a branch and asked for a $100,000 mortgage loan, with a 20% down payment. CHASE BANK REFUSED THE LOAN! It is no wonder our economy is in recession, if this person can't qualify for a loan, who can?
Even the rich are having loans called, by banks.
Bankers are making this recession worse and longer. We just got a call from a CPA who said thousands of Americans are getting notices from Citibank that all "good" credit card accountsare being raised to 29.99% interest rates. This is criminal and only makes it harder for people to "recover" in this difficult economy!
One of our best clients, worth 39 million dollars recently had to "fire sale" half of his real estate assets to satisfy bankers who would not renew his loans. Our first advice was for him to have his assets reappraised, and be sure all real estate loans had current environmental reports in file.
YOUR BEST PROTECTION IS TO HAVE YOUR REAL ESTATE PROPERTIES RE-VALUED BY AN INDEPENDENT COMPANY (LIKE OURS). IT MAKES IT HARD FOR THEM TO "FIRE SALE" YOUR PROPERTY AT BELOW MARKET VALUES.
This is similar to the late 1980's and WE have experience protecting assets during recessions. New appraisals and environmental reports can be VERY helpful if you want to restructure your payments. The old environmental report format has been changed. If you want liability protection, on environmental issues on your real estate, it is important to have a new environmental report that complies with current law.
Thank you. We've been doing this for over 25 years and know the game. If we can help you give us a call. 817 738 9595