dcsimg
We research, you save.
Got Questions On Rates? (855) 610-2972

Financial trouble due to high property tax bill

HSH.com

Q: The reason I am writing to you is because I received my property taxes today and it is more than $6,000. Coupled with my mortgage cost, I think I will not be able to afford my home this year. Could you guide me about it?

A: Given the decline in property values in many areas of the country, you may wish to consider appealing the tax assessment on your home. Most local tax jurisdictions (usually the county or parish where you live) have formal appeals processes in place. You'll want to contact your local tax authority to see what you need to do to get the process started. Also, if you are in imminent danger of not being able to make your mortgage payments, you may need to contact BofA to discuss a potential loan modification with them.

More help from HSH.com

  • Can home price trends predict a Super Bowl winner?

    But is there any specific relationship between home prices, mortgage rates and success in the NFL? Of course not. However, it's fun to forecast the winner of Super Bowl LII based off certain housing market characteristics!
  • Advantages of a FHA mortgage in 2018

    Although the cost of an FHA-backed mortgage isn't likely to get any cheaper in 2018, access to credit for homebuyers with less-than-stellar credit should improve.
  • HSH.com’s annual outlook: 2018 Mortgage and Housing Market Forecasts

    At the start of each year, HSH.com details the important factors we think are most likely to influence the mortgage and real estate markets in the coming year. Come each July, we review to see if our expectations are being met or not.
  • HSH.com on the latest move by the Federal Reserve

    The Federal Reserve concluded a meeting today with a quarter-point change to the federal funds rate to a range of 1.25 to 1.5 percent.
  • Is your VA mortgage refi a 'churn'?

    Veterans have been lured into refinancing their VA-backed loans multiple times with promises of savings that never materialize.