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Old 12-24-2012, 07:26 PM   #1
Fobby
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Hello,

I recently did some renos to the house and I am wondering does the bank who holds te mortgage has to do a reappraisal of the house when comes renewal time?

This is my first mortgage and the renewal in coming up in a year.

Thanks
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Old 12-24-2012, 07:47 PM   #2
Wormius
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Your mortgage wouldn't be affected, unless you are paying for your house insurance or property taxes through the mortgage lender.

Normally you don't want the house re-appraised for property tax purposes, unless you want to pay more.
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