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We financed a house for $60k, then found out it appraised at $35k. Could we pursue any legal...

Question:

We financed a house for $60k, then found out it appraised at $35k. Could we pursue any legal repercussions against the bank for this?

Financing a house

In order to buy a house, there are many ways one could finance the purchase. While the purchase of the house could be done with equity and/or debt. financing a house if often used in the context of using debt to purchase a house.

Answer and Explanation:

If one has financed a house for $60k, then found out that it appraised for $35k, and desire to pursue legal actions against the bank, one must approach a lawyer in order to receive professional legal advice. The lawyer would be able to chalk out a plan for the future course of action.


Learn more about this topic:

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Buying a House: Mortgage Types & Loan Length

from Finance 102: Personal Finance

Chapter 7 / Lesson 4
8.1K

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