It is pretty well known these days that mortgage applicants are liable to undergo scrutiny more thorough than just about anyone in the business can remember. I don’t know about the rest of the country, but in our neck of the woods (Orange County, California) we are also seeing the emergence of a parallel trend. Not only are borrowers getting a more thorough examination, but also the properties themselves are being scrutinized as never before.
I am not talking about the value of the property — those kinds of appraisal issues have been with us for some time now. Today, I am referring to the physical condition of the property. Read more