To the Editor:

I am wondering when the industry is going to create a new document/disclosure that notifies consumers about the facts regarding property appreciation/depreciation.

If property values decline after a home is purchased, it is not the lender's responsibility to cushion the customer from market conditions — that is, unless the pendulum swings both ways, and the lender shares in any value increase.

While I hate the idea of adding another form to the already burdensome document process of home purchase, someone needs to remind consumers that property appreciation is not a right or guarantee of homeownership.

Jean Mills


LJM Consulting, Sacramento

Editor's Note: LJM helps firms with delinquent mortgages.

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