I had used New Day USA several times to…
I had used New Day USA several times to do an IRRL. Back in early 2024, I received a call from New Day offering me a cash out to pay off some debt. The rep told me my home was worth $370,000 and I was apprehensive about that amount especially since interest rates were high at the time. They ordered an appraisal and it came in at exactly $370,000. I recently decided to sell my home and contacted several realtors who told me there was no way my home would sell for that. After reviewing my original appraisal and the one from January 2024, I noticed the appraiser used one home that was similar to mine in size and number of bedrooms and baths, and two were 4 bedroom 2 bath with no adjustment made for the extra bedrooms. One realtor told me that even in 2024 that after reviewing some sales from that time, that my home was not worth what it appraised for. Now I’m underwater $40,000 and can’t sell my home. Last week another New Day rep called me offering the same Refi cash out. I am writing this review now but I just discovered the issue after trying to list my home.