Former Appraiser Pokes Fun at the Housing Boom

Written by a former home appraiser, Dave Girtsman of Ventura, Calif., and animated by Amy Baniecki, the video depicts the increasing woes of a homeowner as he takes out a mortgage at a teaser rate – and then another – with hopes to “refi in a hurry.”

Mr. Girtsman was employed as a home appraiser from 2002 - 2004 in California. With home prices soaring, he often wondered, “Who could afford these mortgage payments?” he says. And while it didn’t happen often, a lender would sometimes ask him to say what he thought a home’s value was before he appraised it, Mr. Girtsman says. The implication: If the value didn’t match what the lender wanted, he wouldn’t get the job. Mr. Girtsman says that he resisted.

"I got my mortgage and I made my payments/
But my rate reset in my latest statement/
It was 1200, now it's 24/
I'm three months late, so I'm out the door..."

The LA Times tracked down the performers: The singer is a former real estate appraiser who is now working as a Web developer. The animator is a Mexican mask wrestler known to her fans as Crybaby. Neither one owns a home.

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