Finally, some good news!

Since we applied for the financing with Chase, we've heard from someone new daily, it seems, asking for some new documentation. So when Gerald responded to the last inquiry, he asked about the appraisal. 

Yes, it was completed and it was favorable. In fact, it came in at about $150,000 more than the one Wells Fargo had ordered. We were relieved, of course. To think we had lost as much value as Wells Fargo said we did was almost inconceivable.

Now we have choices. We can go back to Wells Fargo to see about getting our original equity line reinstated as the new appraisal was well over the benchmark they told us it would take. Or we could proceed with Chase. One way or the other it looked like we were going to be able to finish this thing after all.

Still, the whole thing made us wonder about the process of appraising Real Estate and how two trained assessors could come up with such wildly different estimates.