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Updated about 5 years ago on . Most recent reply

User Stats

53
Posts
11
Votes
Davidson Francois
  • Miami, FL
11
Votes |
53
Posts

Mortgage Payment Problems

Davidson Francois
  • Miami, FL
Posted

Can anyone help me with this problem? When i purchased my home in 2018 i paid $2400 in insurance and about $2200 in property taxes. Now, in 2019 it seems that my property taxes and insurance doubled and it now caused my mortgage payment to go up $508. i paid $5012.53 in County taxes and $5002.66 in insurance. When I first purchased the home my mortgage was $2177 and I'm paying $2686. Can anyone guide on what to do? 

Most Popular Reply

User Stats

2,666
Posts
1,864
Votes
Dawn Brenengen
  • Real Estate Broker
  • Raleigh, NC
1,864
Votes |
2,666
Posts
Dawn Brenengen
  • Real Estate Broker
  • Raleigh, NC
ModeratorReplied

@Davidson Francois I ask about it being new because the first year the home exists the assessed value is based only on the land, not the improvements (the house).  But, after the second year, the house is included too, and the assessed value goes way up.  

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