looking for idea- house loan programs

[Penn]

http://www.makinghomeaffordable.gov/programs/lower-payments/Pages/hamp.aspx

I wonder if I could get a higher payment to do some work around here and then say my payment went up so it has to be lowered?

 

[Penn]

hmm- I guess not- I am as cheap as it gets - it appears

 

[ancona]

Cliff,
If you already have a cheap mortgage, don't fool with it. If you try for a new mortgage, they w2ill re-value the home based upon a lot of factors, but the possibility that they value it higher than when you bought it exists. That new price then becomes the basis for your property taxes. You might get a cheaper rate, but you might also end up paying more in taxes because of the re-assesment.

 

[Jay]

Cliff,
If you already have a cheap mortgage, don't fool with it. If you try for a new mortgage, they w2ill re-value the home based upon a lot of factors, but the possibility that they value it higher than when you bought it exists. That new price then becomes the basis for your property taxes. You might get a cheaper rate, but you might also end up paying more in taxes because of the re-assesment.

what he said. My 29,000 2200 sq foot duplex has become a 89,000 2200 sq foot duplex. And I've only painted it once. My property tax has gone from 400 to 1756 in ten years.

 

[Penn]

thanks guys!

I will stay put.