Correct property valuation is not a science, thanks to Letitia James it’s the law now! If I lived in NYC I would sue if any shortfall when selling a house. Also how about deducting the shortfall on your taxes as a loss or better yet their! This is the only way to stop the lies and insanity!
“If I lived in NYC I would sue if any shortfall when selling a house.”
Problem is the insidious statute at issue gives the authority to bring this ridiculous type of “fraud” case to the attorney general and the attorney general alone.
Once the banks agree it’s a fair valuation. They’re out there to minimize risk exposure to protect their capital in the loan.