I've been trying to close on a house for months now and I got a jumbo loan with 30% down but they keep having the appraisal come in 10% lower so that I have to put 40% down. They compared my house to two short sells that are being completely renovated but gave me no credit for mine being move in condition. However, when I gave them another comp on the same street they said mine didn't have as nice of features so they won't compare even though they compared mine to two short sells that are being gutted. Total scam, took my money for appraisals, application, etc. and now want me to walk or put 10% more down. I talked to 3 other appraisers in the market and they told me to sue them as the appraisal is a joke according to them and ING used an appraiser that isn't even in our market and doesn't know the neighborhoods. He looked at square footage only and got that wrong by 1900sq feet on one comp. Unbelievable, beware....it's a total scam to suck fees out of your wallet but not close.
I understand your anger, as fellow mortgage applicant. I feel proud and satisfied as ING investor to hear that ING Mortgage is very careful at apprisal acceptance, and wants to be more on the safe side. This story of yours makes me think ING is a worthwhile investment.