HUD REQUIREMENTS FOR JUMBO LOANS MAY REQUIRE 2 APPRAISALS!!!!

I HAVE BEEN TOLD BY MY COLLEGUES IN THE LENDING BUSINESS THAT WITH THE NEW TIGHTENING OF THE FED MONIES - HUD MORTGAGES THAT EXCEED THE NEW LOAN LIMIT OF $417,000 MAY, AND THAT'S THE WORD - MAY REQURE 2 SEPARATE APPRAISALS. ESPECIALLY, IF THE BUYER'S LOAN TO VALUE IS 95% AND IT IS IN A DECLINING MARKET. SEDONA IS IN A DECLINING MARKET. NOT BECUASE OF OUR BEAUTIFUL WONDERFUL PLACE - BUT SEDONA IS A SMALL PART OF A BIG COUNTY - YAVAPAI - AND THAT COUNTY SITS PRESCOTT, PRESCOTT VALLEY AND DEWEY (ALL ABOUT AN HOUR FROM SEDONA). BECUASE OF THE FORECLOSURES AND SHORT SALES PRIMARILY IN THAT MARKETPLACE - SEDONA AND OUR SURROUNDING COMMUNIITES ARE IN A DECLINING MARKET. FOR MORE INFORMATION ON ALL YOUR BUYING AND SELLING NEEDS - PLEASE CALL ME AT 800-975-5943 OR BARBARA@BARBARABAKER.COM