I recently experienced exactly what happened with the characters home. We made an offer on a home (which was a re-possession) and the appraiser WE CHOSE (which was on their approved list). The real estate company tried to "steer" us to use their appraiser, which I wasn't about to. I chose my own (the mort. broker had nothing but good things to say about him going in...) but when the appraisal came back $12,000.00 LESS than our offer... well, all of a sudden he was this and that... basically a guy was was "bound and determined that property values were WAY over-valued around here"... I agreed with the appraiser.. in that there was no way on earth that house was worth what the seller was saying it was. The bank is actually commiting fraud when they a) sell the house for more than they repossessed it for AND b) keep the 'profit' for themselves. They're supposed to give it to the first lien holder if it wasn't satisfied in the repossession, and the 2nd lienholder etc. After the liens are satisfied, then the balance goes to the person who they repo-d the house from.
That is, if the banks and lawyers were acting according to the law, but see they NEVER DO. AND they keep hoping that you and me will never find this out. They keep on taking us to the cleaners and one of these days, this whole house of cards will fall down.

I REALLY liked this episode and hope when America finds out what the banksters and lawyers are doing, there will be a revolution!

CLOSE TO HOME for this episode gets a 10.