Inflated Appraisals

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During the real estate the foreclosure due to inflated appraisalsbubble, there are numerous cases of developers working in concert with lenders to grossly inflate the property appraisals.  There are countless lawsuits alleging mortgage fraud due to fraudulent real estate appraisals, artificially inflated prices and illusory comparable sales.

Many properties have depreciated in value by over 95%, a figure that is obviously not solely attributable to the poor real estate market.  We have counseled

many clients as to their options concerning the problem of owning a property which is severely underwater and making a continuing monthly mortgage payment on a worthless piece of property.