When you’re taking money out of an ATM, you may be schooled to make sure other people in line won’t catch your PIN – but there are bigger risks out there.

An appraisal is an essential step in any mortgage process. It establishes the value of the home to be used as collateral, and determines how much money the lender is willing to loan for a new mortgage and how much cash a homeowner is able to obtain in a refinance or second mortgage.