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

  • Mortgage Rates Radar 05/24/2016: Mortgage rates see upward bump

    HSH.com releases its latest Weekly Mortgage Rates Radar showing a small increase in popular mortgage rates during the seven-day period ending May 24, as minutes from the most recent Federal Reserve meeting suggests that a change in short-term rates may come sooner than later. The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).
  • The salary you must earn to buy a home in 27 metros

    Here’s how much salary you would need to earn in order to afford the median-priced home in your city.
  • Mortgage Rates Radar 05/17/2016: Mortgage rates flat

    HSH.com releases its latest Weekly Mortgage Rates Radar showing virtually no movement in popular mortgage rates during the seven-day period ending May 17, as financial markets are mostly directionless at the moment. The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).
  • Mortgage Rates Radar 05/10/2016: Mortgage rates wander downward

    HSH.com releases its latest Weekly Mortgage Rates Radar showing a modest decline in mortgage rates in the seven-day period ending May 10, as financial markets settle in to a quiet period with little economic data to consider. The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).
  • Mortgage Rates Radar 05/03/2016: Mortgage rates mostly steady this week

    HSH.com releases its latest Weekly Mortgage Rates Radar showing almost no change but perhaps, the beginning of another decline in popular mortgage rates during the seven-day period ending May 3, as the financial markets turn their focus from the Federal Reserve to incoming data. The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).