Americans are dissatisfied with the automatic system of property assessment

US residents are unhappy with the automatic system of property assessment. They believe that due to instability in the real estate market "machine" often underestimates the value of their homes, and it makes it difficult to get a loan against the property or refinance mortgages. According to the American newspaper The Wall Street Journal, in this regard, the US courts have been filed lawsuits against a number of banks, including JP Morgan Chase & Co, Wells Fargo & Co., Citibank and other major mortgage lenders. The first automatic system for determining the value of the property was developed in the 1990s by Professor Robert Shiller of Yale University. It assesses housing on the following parameters: location, age of the building, rooms, etc. Banks use a computer program of property assessment in the first place when you make a mortgage. This service costs only $ 20, while hiring professional appraisers traveling to the site, can cost hundreds of dollars. According to Schiller, an objective assessment may interfere with insufficient data about the object. The program uses the information obtained in the county and municipal government offices, and there is not always accurate and complete information about the houses. On this Site www.bfm.ru