HVCC – Petition to Overturn Delivered to Cuomo Today

The HVCC should take another blow today as a petition to overturn it signed by more than 120,000 individuals will be delivered to Attorney General Cuomo’s office today.  We all know the problems this bill has caused, i would just like to list a couple that i am aware of:

1. Purchase contracts expiring because the HVCC conduit not forwarding appraisal orders timely enough
2. Clients having to pay for, four and in some cases five different appraisal invoices because they are not transferable
3. Big Banks charging $750 – $1,000 as an application fee to help cover the cost of the appraisal that used to cost $350 – $450
4. Closing Costs have increased by as much as 35%, due to multiple appraisals
5. Appraiser being underpaid for the same work or more

I hope that this law will be overturned.  If you have been affected by the HVCC sign any petition you can. 

The following is a great article for background as to why the HVCC came into existence.  Click the lick and read on.

http://www.appraisalpress.com/news/articles/hvcc_the_cure_is_worse_than_the_disease/