Property Taxes

[meatpile]

Anybody get their bill? Mine always goes up - just a tad. But I think over the past 2 or 3 tears it's up 20%, which turns out to be alot ( unfortunately ).

Anybody else pay theirs on their own ( not escrow )?

It's gonna hurt when they re-assess over here.

[Freakshow]

Haven't received mine...they should be out or going out now.

Most people HAVE to escrow. Most lenders (outside of subprime) charge you to waive escrows. Usually it's .25% of the loan amount. If you owe over 80% a lot of them won't even let you.

[VA49er]

Most people HAVE to escrow. Most lenders (outside of subprime) charge you to waive escrows. Usually it's .25% of the loan amount. If you owe over 80% a lot of them won't even let you.

Which is something I don't really agree with. It seems, if they don't have the costs of escrowing, then they should charge me less. Most business loans don't escrow. I guess the added risk of idiots not making their tax payments is the reason they give for charging more though.

[Redsnapper]

From a financial standpoint it is better to not escrow, b/c then you would be able to invest that money in a vehicle making interest, that you would other wise be giving to the lender (so they can invest it). Although it usually doesn't work like that, and humans tend to spend the money they have, and when the tax bill comes due, scramble to make the payment. I escrow to avoid the latter. and once again, IMO.

[VA49er]

From a financial standpoint it is better to not escrow, b/c then you would be able to invest that money in a vehicle making interest, that you would other wise be giving to the lender (so they can invest it). Although it usually doesn't work like that, and humans tend to spend the money they have, and when the tax bill comes due, scramble to make the payment. I escrow to avoid the latter. and once again, IMO.

I wish I didn't have to escrow but, alas, the fuckers charge more if I don't.

[Thelt]

The county portion of the Medicaid program is what is currently pushing tax rates. North Carolina is the only state that forces local governments to carry part of the load for Medicaid. I know in my county it takes about 20% of what is taken in, in property taxes, to cover medicaid.

[Freakshow]

Which is something I don't really agree with. It seems, if they don't have the costs of escrowing, then they should charge me less. Most business loans don't escrow. I guess the added risk of idiots not making their tax payments is the reason they give for charging more though.

If I'm a lender...I'm escrowing. Too many people let their insurance lapse or don't pay their taxes...

How much can you really make on a LIQUID investment with your escrows? Let's say you need to escrow $3000 per year...at 5% that gives you $150.

IMO escrowing is easy...and the loss if interest is minimal...

[meatpile]

I am NOT paying more not to escrow - made sure of it when I got the loan.

I also got fucked by a lendor once who paid my taxes twice by accident - and then saw it as a debit on my end and doubled the amount. 6 months later, it got corrected, but every month I had to pay the bill so my credit wouldn't get fucked.

Redsnapper - people who can't be responsible enough to pay their own taxes probably have alot of other financial problems as well. It's not that hard.

[Redsnapper]

If I'm a lender...I'm escrowing. Too many people let their insurance lapse or don't pay their taxes...

How much can you really make on a LIQUID investment with your escrows? Let's say you need to escrow $3000 per year...at 5% that gives you $150.

IMO escrowing is easy...and the loss if interest is minimal...
and that's why he's the moderator!:229031_ha

[slydevl]

and that's why he's the moderator!:229031_ha

He knows a small part about one sector of financial advice. Mortgages. BFD.

You want to talk NIBT, SVA, 401k, Roth, IRA, IRS, or Piggy Banks, I'm your fucking man.

[Redsnapper]

I'm pushing for a Money and Personal Finance reform, Slydevl should be added as a moderator!!:hump:

[WilliamJ]

$2800.00, i don't feel so bad about it right now. my cousin pays 13k in westchester county, ny.