Double Trouble
Thursday, January 28, 2010 at 9:57PM Let us say your house is worth $x in your opinion (based on square footage muliplied by the going rate in your area)
Now you get a property tax statement from the county that says your house is worth x+300k !!! and you now owe the county a bigger tax amount.
You figure that if your house is worth that much, then you should be able to get a really nice interest rate on a loan.. afterall your risk is low considering how much your house is worth and how much money you have put in the house already!
So you start the process and to your surprise and anger, the guy who came to appraise your house values the house at x-200k. You are now scratching your head...
The banks want to keep your mortgage high by lowering house value
The county wants to keep your tax high by raising house value
This whole country is run by crooks at every level!
Maybe we should sell our house to the state of California and repay the bank loan and start renting?
If the above mentioned weren't true, I would be laughing.
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bailout, banks, fraud, government, house, interest rate, taxes
Reader Comments (2)
IF.... if you are planning on selling your house to the state of CA, you will have to stand behind me in line.
Crooks??? Yenakku vayil ketta ketta varthaya varadhu.
sundar:
i hear and feel your pain. that said ...
folks from ca line up behind folks in fl. at least you guys have a decent shot at prices coming back up in your lifetime. i don't think my property will appreciate 300% anytime soon! :-(
also, while in ca, you can walk away if you are upside down without the lenders coming after your other assets - theoretically speaking - that also does not work in fl!
bottom line: there are folks worse off than you ... though that is neither here nor there!
- s.b.