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real estate crash

Texas lender sues Tampa Bay area appraisers for over-evaluating home values pre-2008

in The Bay and the 'Burg by

Before 2008, home values had exploded. For example, a home in Tampa’s Seminole Heights neighborhood appraised for $286,000 in 2006. By the time it was auctioned off in 2012, the bank received just $60,000 for the home. Llano Financing Group, based in Texas, filed eight separate lawsuits targeting appraisers and their companies for damages associated with foreclosure losses. Three of them seek damages totaling nearly $1 million. Llano argues appraisers negligently overvalued an area home in 2005 or 2006. In…

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