M Delury posted on October 11, 2011 12:01
If you are in the process of refinancing with a bank, part of the process involves an appraisal of the property. You as the borrower are entitled to the appraisal. You Paid For IT! You want (demand) to receive a copy of the Appraisal that will be done. Once you receive it you may want to use that as the basis for your New Assessed Value. This is an overlooked area of those who refinance. They are focused on the rate of interest, but there are multiple benefits. If you are successful in reducing your taxable value, later on this will lower your mortgage payments which reset annually after there is 12 month of escrow results. The banks send out once a year your escrow analysis.