X

It's a question almost everyone is asking: "Should I refinance my mortgage?" If so, what's the best way to pay for my mortgage refinance

It's a question almost everyone is asking: "Should I refinance my mortgage?" If so, what's the best way to pay for my mortgage refinance

Financial trouble due to high property tax bill

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.

Ask the expert
Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
Submitting your question...

Question received! Check back later to see if your
question gets published.

Q: Can I get forbearance for my mortgage?
MAY 19, 2020
A:

The answer is "possibly." It depends on the situation.

Read More
Q: Is mortgage insurance tax deductible?
JAN 08, 2020
A:

Tax deductibility for PMI premiums or MI premiums for FHA loans has been an on-again, off-again kind of thing. For 2019 and 2020, it's back on.

Read More
Q: How many times can I use my VA home loan?
OCT 31, 2019
A:

There are three ways you can restore your VA eligibility so that you can take advantage of it more than once.

Read More
Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen