This owner must have been asleep at the wheel. I really don't care who you are or what you did, no one deserves to lose over $700K in less than two years.
Where were his friends, family, appraiser and most importantly, his realtor? If your realtor doesn't step in at this point any give you rationale advice what good is he/she?
The lenders not only need to tighten their lending standards, they also need to filter out the crooked appraisers and realtors out there preying on the clueless!
