Chase Home Lending appraises my home – how much will it be?

March 29, 2010: Jim Carr, an independent appraiser, contacted me to schedule the appraisal “tomorrow”. There was no discussion of price or cost to me. We settled on April 1, 2010 as I would be out of town on business 3/30-3/31/10.

April 1, 2010, 8:35 am: Laura called from Chase, looking for money. I told Laura I’d mailed a full payment plus late fees on 3/31/10 and Chase would have it by 4/5/10 as I’d promised. I went on to say the next time I could make a payment in full would be 6/5/10.

April 1, 2010: The interior appraisal was conducted. Mr. Carr told me he was a sub-contractor and had no direct dealings with Chase. He was merely sent out to conduct the appraisal which would then be turned over to his bosses who would in turn provide it to Chase. He felt Chase would have the appraisal in hand no later than Monday, April 5, 2010.

Still waiting for answers from Chase

March 26, 2010, 4:00 pm: I called the Chase Executive Lending Office and asked to speak with someone in Megan’s absence. Makisha handled the 30-minute phone call, verifying Megan was out until 4/5/10 as she tried to get an answer on scheduling the interior appraisal. She said “they” had forwarded the request to the Appraisal Dept. I asked if a Chase employee would conduct the appraisal; she said no, an independent appraiser would contact me and I would negotiate price. I was stunned and asked, if I was going to pay for it, why couldn’t I just pick my own appraiser and get things moving? Makisha said they had to be “legitimate” and Chase had a list of approved companies. I asked for the list so I could start negotiating price and expedite getting an appraiser out – she said it “wasn’t done that way”. Makisha expressed surprise that Megan hadn’t covered any of this and also that I hadn’t been re-assigned to someone during Megan’s absence. She went on to say I would have to wait for the appraisal to be scheduled; it would take 7-10 days. I asked when the count of 7-10 days started and Makisha said she had already given me “way more information than she was supposed to”. I backed off as she had been helpful and thanked her for her efforts. Makisha said she would note our conversation in the file.