LJ Posted July 27, 2009 Report Share Posted July 27, 2009 Well, this doesn't make me happy. I explained to that broad when I signed I needed that fixed so regardless of what happened in my situation, i'd know what my mort payment was going to be until I was done with it. She NEVER told me this was anything I'd have to be worried with. I guess this is just one more thing you find out after the damn fact. So much for paying off my $250/month truck. Now a mort increase! Honest man never catches a damn break! Not to be an ass to you, because I like you and I'm not trying to make the situation worse for you... But shit like this is exactly why the economy is in the shape it is in. People agree to mortgages where they have no idea what they are doing. Quote Link to comment Share on other sites More sharing options...
Tractor Posted July 27, 2009 Report Share Posted July 27, 2009 Ya...a month Hehe maybe you got rezoned and the insurance is going up because your now in danger of flooding or high crime. Quote Link to comment Share on other sites More sharing options...
LJ Posted July 27, 2009 Report Share Posted July 27, 2009 Hehe maybe you got rezoned and the insurance is going up because your now in danger of flooding or high crime. I know a girl I used to be friends with had her insurance skyrocket because FEMA rezoned a bunch of Dominion houses by Easton about this time last year. They caught it at closing, but if your insurance is renewing just now, they may not have caught it if you are in this zone. Quote Link to comment Share on other sites More sharing options...
copperhead Posted July 27, 2009 Report Share Posted July 27, 2009 My taxes went from 2400 to 9300 in the last 6 months. I don't blame the mortgage company, accept they don't notify me until after they have loaned me the money. Yeah, I just yelled "FUCK THAT" Quote Link to comment Share on other sites More sharing options...
evan9381 Posted July 27, 2009 Report Share Posted July 27, 2009 that just seems like a lot, even for a big house. a while back, i was dicking around on the auditors website, and looked at some houses back n colt's neck in gahanna/new albany area, check out something like this... http://franklincountyoh.metacama.com/photo/20080430/KU113546.jpg Tax Year 2008 Annual Taxes $60,605.30 yeah...5k A MONTH. lol Quote Link to comment Share on other sites More sharing options...
Cordell Posted July 27, 2009 Report Share Posted July 27, 2009 This type of shit caused me to sell my first house, luckily I got out of it before it fucked me. I bought a new build, and they don't tell you that after they evaluate the property with a house on it, it'll jump a shit ton. I was young and ignorant. Quote Link to comment Share on other sites More sharing options...
iwishiwascool Posted July 27, 2009 Report Share Posted July 27, 2009 It should be assume that your home as lost value since you bought it. Request a reappraisal by the auditor. You might be able to negate the increase in you taxes and the shortfall from your escrow last year. Quote Link to comment Share on other sites More sharing options...
Akula Posted July 27, 2009 Report Share Posted July 27, 2009 Putty, your mortgage payment didn't change, your principal and interest are exactly the same. You can decouple your escrow from your mortgage and write a check for taxes and insurance. Quote Link to comment Share on other sites More sharing options...
Putty Posted July 27, 2009 Author Report Share Posted July 27, 2009 Not to be an ass to you, because I like you and I'm not trying to make the situation worse for you... But shit like this is exactly why the economy is in the shape it is in. People agree to mortgages where they have no idea what they are doing. That's incorrect. People agreed to mortgages they ultimately could not afford. There's a difference. Nor did I say I was going to foreclose due to this. Putty, your mortgage payment didn't change, your principal and interest are exactly the same. You can decouple your escrow from your mortgage and write a check for taxes and insurance. Ya, it shows my principal payment remaining the same. You are correct. Quote Link to comment Share on other sites More sharing options...
sciongirl Posted July 27, 2009 Report Share Posted July 27, 2009 mine did the same thing in canal... went up $70 a month Quote Link to comment Share on other sites More sharing options...
gillbot Posted July 27, 2009 Report Share Posted July 27, 2009 That's incorrect. People agreed to mortgages they ultimately could not afford. There's a difference. Nor did I say I was going to foreclose due to this. His point still stands though. You expected the payment to NEVER change and it did. You did not understand completely what you were getting in to. Quote Link to comment Share on other sites More sharing options...
Putty Posted July 27, 2009 Author Report Share Posted July 27, 2009 His point still stands though. You expected the payment to NEVER change and it did. You did not understand completely what you were getting in to. Well, if it does....it's a case of being duped by the lender. It's not a case of causing me to foreclose due to not being able to afford it. Quote Link to comment Share on other sites More sharing options...
Akula Posted July 27, 2009 Report Share Posted July 27, 2009 Yeah, I just yelled "FUCK THAT" I split a lot off and built a house. The first year they charged me for taxes on the land. The next year it was land and house. Quote Link to comment Share on other sites More sharing options...
iwishiwascool Posted July 27, 2009 Report Share Posted July 27, 2009 Well, if it does....it's a case of being duped by the lender. It's not a case of causing me to foreclose due to not being able to afford it. I think a lender assumes that you have the common sense to know that taxes will not be consistent over a 30 year term. Quote Link to comment Share on other sites More sharing options...
LJ Posted July 27, 2009 Report Share Posted July 27, 2009 Well, if it does....it's a case of being duped by the lender. It's not a case of causing me to foreclose due to not being able to afford it. Lol, no it's not. Not in the least. It's a case of you not doing your research and not understanding what you were signing. Taxes and insurance are going to go up over time. Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted July 27, 2009 Report Share Posted July 27, 2009 Living out in the country FTW. County rate is .64% here. Oh and you should have known taxes and insurance will go up over time. No surprise there. It has nothing to do with the bank. Quote Link to comment Share on other sites More sharing options...
Akula Posted July 27, 2009 Report Share Posted July 27, 2009 Living out in the country FTW. County rate is .64% here. Oh and you should have known taxes and insurance will go up over time. No surprise there. It has nothing to do with the bank. Trouble is, when you are a new home buyer.... you learn this AFTER the taxes go up. No one says "You know those "levies" everyone is talking about, that is your taxes going up. Or that guy driving real slow with the camera in the county truck, that is your taxes going up..." So lesson learned here is this. Your taxes will go up every year, and they are assessed once per year by whomever your escrow holder is. Quote Link to comment Share on other sites More sharing options...
Putty Posted July 27, 2009 Author Report Share Posted July 27, 2009 Trouble is, when you are a new home buyer.... you learn this AFTER the taxes go up. No one says "You know those "levies" everyone is talking about, that is your taxes going up. Or that guy driving real slow with the camera in the county truck, that is your taxes going up..." So lesson learned here is this. Your taxes will go up every year, and they are assessed once per year by whomever your escrow holder is. Exactly....... /thread! Quote Link to comment Share on other sites More sharing options...
LJ Posted July 27, 2009 Report Share Posted July 27, 2009 Trouble is, when you are a new home buyer.... you learn this AFTER the taxes go up. No one says "You know those "levies" everyone is talking about, that is your taxes going up. Or that guy driving real slow with the camera in the county truck, that is your taxes going up..." So lesson learned here is this. Your taxes will go up every year, and they are assessed once per year by whomever your escrow holder is. Or you could do this thing called due diligence before you buy a home and figure all this stuff out before you take on a large liability. I don't really have any sympathy for people who just figure it out when they get their bill. Quote Link to comment Share on other sites More sharing options...
Skinner Posted July 27, 2009 Report Share Posted July 27, 2009 Well, this doesn't make me happy. I explained to that broad when I signed I needed that fixed so regardless of what happened in my situation, i'd know what my mort payment was going to be until I was done with it. She NEVER told me this was anything I'd have to be worried with. I guess this is just one more thing you find out after the damn fact. So much for paying off my $250/month truck. Now a mort increase! Honest man never catches a damn break! If it makes you fell any better mine only went up about $20 a month. Quote Link to comment Share on other sites More sharing options...
Putty Posted July 27, 2009 Author Report Share Posted July 27, 2009 Or you could do this thing called due diligence before you buy a home and figure all this stuff out before you take on a large liability. I don't really have any sympathy for people who just figure it out when they get their bill. At what point did I ask for sympathy? I'm just pissed I gotta pay more a month, unexpected. You changing the direction of this thread pathetic....making me seem like i'm a part of the problem with the way the economy is. I can afford my obligations and probably yours, too, in addition, so don't classify me as one of those. Quote Link to comment Share on other sites More sharing options...
LJ Posted July 27, 2009 Report Share Posted July 27, 2009 At what point did I ask for sympathy? I'm just pissed I gotta pay more a month, unexpected. You changing the direction of this thread pathetic....making me seem like i'm a part of the problem with the way the economy is. I can afford my obligations and probably yours, too, in addition, so don't classify me as one of those. I'm not. I am saying that this shows that people got into things they didn't understand. I didn't change the direction of the thread at all and I never said that you couldn't afford your obligations. People agree to mortgages where they have no idea what they are doing. That is true. You can't deny that. You have a right to be pissed, but saying that the mortgage company "duped" you is complete bullshit. You didn't do your research and you didn't know what you were doing. I don't have any loan balances, so I am sure you can afford mine too. Quote Link to comment Share on other sites More sharing options...
Doug1647545489 Posted July 27, 2009 Report Share Posted July 27, 2009 Trouble is, when you are a new home buyer.... you learn this AFTER the taxes go up. No one says "You know those "levies" everyone is talking about, that is your taxes going up. Or that guy driving real slow with the camera in the county truck, that is your taxes going up..." So lesson learned here is this. Your taxes will go up every year, and they are assessed once per year by whomever your escrow holder is. I bought my first home last month... fully aware of future tax and insurance increases. No mention of it from my bank either. I thought it was common knowledge ??? Quote Link to comment Share on other sites More sharing options...
Bam Posted July 27, 2009 Report Share Posted July 27, 2009 I bought my first home last month... fully aware of future tax and insurance increases. No mention of it from my bank either. I thought it was common knowledge ??? +1, I bought my home 2 years ago when I was 21. I did my research and fully understood the security of a 30 year fixed mortgage only secured my principal and interest payments, nothing else. I fully expected insurance to rise as well as my property taxes, as I hoped my property would increase in value, which it has and therefore both costs associated with it have as well. Quote Link to comment Share on other sites More sharing options...
gillbot Posted July 27, 2009 Report Share Posted July 27, 2009 I bought my first home last month... fully aware of future tax and insurance increases. No mention of it from my bank either. I thought it was common knowledge ??? This.... Before I bought my first home I read till I couldn't take any more, then I read some more. I didn't want to be suprised by anything later on. The problem today is people expect everyone else to hold their hand through everything and as soon as something pops up, ZOMG THEY NEVER TOLD ME IT's THEIR FAULT NOT MINE. Quote Link to comment Share on other sites More sharing options...
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